New Delhi. Power generation company Meja Urja Nigam Private Limited (MUNPL) on Monday said it has signed a Rs 942-crore loan agreement with Bank of Maharashtra for long-term project financing.
MUNPL is a joint venture company of NTPC Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited.
“MUNPL has signed a loan agreement with Bank of Maharashtra for long-term project financing of Rs 942 crore,” the company said in a statement.
“The loan will be utilized to part finance the capital expenditure and FGD (Flue Gas Desulphurization) related to 2×660 MW, Meja Thermal Power Plant,” it added.
The power plant is located in Meja, near Prayagraj, in Uttar Pradesh.
The time-frame to avail the entire loan amount is one year, while the tenure to repay is 16 years, MUNPL Deputy General Manager – Finance Amit Rautela told PTI .
The agreement was signed by MUNPL CFO Navneet Goel in presence of company”s CEO Asim Kumar Samanta and senior officials of the bank, the statement said.
“Unit -I of the super critical plant has already been commissioned with effect from April 30, 2019, and Unit-II is ready for declaration of commercial operation, which is expected very soon,” Samanta said.
