IRFC Sanctions Rupee Term Loan of INR 12,640 crore to CSPGCL

Indian Railway Finance Corporation (IRFC) has sanctioned a Rupee Term Loan (RTL) of INR 12,640 crore to Chhattisgarh State Power Generation Company Limited (CSPGCL), a wholly owned entity of the Government of Chhattisgarh, for financing its upcoming 2x660 MW Super Critical Thermal Power Project at HTPS, Korba West.

The loan agreement was signed today at CSPGCL's headquarters in Raipur between Mr. Nav Goel, General Manager, IRFC, and Mr. Sandeep Modi, Executive Director (Finance) & Mr. C.L. Netam, Executive Director (Projects) , CSPGCL.

Established in 1986 as the dedicated financing arm of the Ministry of Railways, IRFC has played a pivotal role in strengthening India's rail infrastructure by mobilising resources at competitive rates. Recently accorded 'Navratna' status, the company is expanding its role as a diversified infrastructure financier within the railway ecosystem, with a mandate covering projects that have forward and backward linkages with railways, such as power generation and transmission, mining, fuel, coal, warehousing, telecom, hotels and catering, metro rail, freight corridors, ports, multimodal logistics etc. IRFC continues to maintain a strong asset quality track record with a zero-NPA portfolio.

CSPGCL, incorporated in 2003, is the state-owned generation utility of Chhattisgarh with an installed capacity of over 2,600 MW. It plays a pivotal role in meeting the state's electricity demand and supplying power to neighbouring regions and Indian Railways.

The sanctioned funding will provide CSPGCL with long-term, low-cost resources for project implementation, ensuring financial stability and timely execution of this critical project, ultimately benefitting the public at large.

Speaking on the occasion, the Chairman and Managing Director of IRFC, from his office in Delhi said: "IRFC remains steadfast in its mission to serve as the one-stop financier for projects that strengthen the railway ecosystem. Our support to CSPGCL exemplifies our commitment to provide competitive funding for projects that are vital to both regional growth and railway-linked infrastructure. With railways at the centre of our mandate, we will continue to back projects that enhance efficiency, sustainability, and energy security for the nation."

Shares of Indian Railway Finance Corporation Limited was last trading in BSE at Rs. 121.90 as compared to the previous close of Rs. 124.10. The total number of shares traded during the day was 891197 in over 13377 trades.

The stock hit an intraday high of Rs. 124.30 and intraday low of 121.55. The net turnover during the day was Rs. 109424989.00.

Source : Equity Bulls

Keywords

IndianRailwayFinanceCorporation INE053F01010 IRFC NBFC RupeeTermLoan CSPGCL