Indian Railway Finance Corporation (IRFC) has extended loan assistance of ₹3,388.51 crore to Patratu Vidyut Utpadan Nigam Limited (PVUNL), a subsidiary of NTPC Limited, to support the development of the Banhardih Coal Block in Latehar district, Jharkhand. The loan agreement was signed at PVUNL’s Patratu office by Shri Shwet Ketu Mishra, Chief General Manager of IRFC, and Shri Ashok Kumar Sehgal, CEO of PVUNL.
Established in 1986 as the financing arm of the Ministry of Railways, IRFC has been instrumental in strengthening India’s rail infrastructure by mobilising funds at competitive rates. Recently granted Navratna status, IRFC is now expanding as a diversified infrastructure financier within the railway ecosystem. Its mandate includes financing projects linked to railways such as power generation, transmission, mining, coal, fuel, telecom, warehousing, hotels, catering, metro rail, freight corridors, ports, and multimodal logistics. The corporation maintains a strong asset quality record with a zero-NPA portfolio.
PVUNL, a joint venture between NTPC Ltd. (74%) and Jharkhand Bijli Vitran Nigam Limited (JBVNL) (26%), is developing a 4,000 MW coal-based thermal power project at Patratu in two phases. The Banhardih captive coal block, with estimated reserves of around 956 million tonnes, has been allocated to PVUNL for exclusive use in this project. Coal from this block will be transported via the Indian Railways network, highlighting the strong forward and backward linkages between the project and the railway sector.
