
Indian Railway Finance Corporation Ltd. (IRFC) announced that it has emerged as the lowest bidder (L1) for providing ₹3,167 crore in financing for the development of the Banhardih Coal Block project in Jharkhand. This project, under Patratu Vidyut Utpadan Nigam Limited (PVUNL), a joint venture between NTPC Limited (74% stake) and Jharkhand Bijli Vitran Nigam Limited (26% stake), aims to secure captive coal for power generation.
The coal extracted will be transported from the block to the PVUNL project site via Indian Railways, ensuring an integrated supply chain. The financial proposal is subject to further due diligence, Board approvals, and finalization of detailed terms with PVUNL.
This development reinforces IRFC’s position as a key financier for India’s infrastructure and energy projects.
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