Tamil Nadu Generation and Distribution Corporation: Udangudi power project on track

In a move to boost the power infrastructure in the State, a loan agreement has been signed between the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) and Rural Electrification Corporati

Published: 14th January 2018 02:07 AM  |   Last Updated: 14th January 2018 09:36 AM   |  A+A-

By Express News Service

CHENNAI: In a move to boost the power infrastructure in the State, a loan agreement has been signed between the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) and Rural Electrification Corporation (REC) Ltd for financial assistance of Rs 10,453 crore to set up the 1,320MW Udangudi stage-1 power project.

The 2x660 MW coal-based supercritical thermal power project is set to come up in Thoothukudi district and has been in the news for sometime now.

The multi-crore deal was inked in the presence of Electricity Minister P Thangamani, Energy Secretary Vikram Kapur and the Chief Managing Directors of REC, TANGEDCO and the Tamil Nadu Transmission Corporation.

The directors of the State power corporations lauded the REC, a Central public sector enterprise, for its support in development of power sector in the State and further stated that the huge loan assistance from the REC as per the MoU would ensure timely implementation of these projects.

“Such a huge investment will not only improve power infrastructure of State power utilities but also improve their financial as well as operational performance,” P V Ramesh, CMD, REC, said.

According to an official statement from TANGEDCO, the State government and the power corporations, with the financial support, have made all out efforts for establishment of new generation, transmission and distribution schemes. This, they believe, would provide a long-term and permanent solution to meet the growing power demand in the State.

Stay up to date on all the latest Tamil Nadu news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

FIFA-World-Cup-2018