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Finance | April 2017

Tamil Nadu gets Rs.5,500 cr loan for power project

Power Finance Corporation (PFC) has sanctioned Rs.5,474 crore as term loan to Tamil Nadu Generation and Distribution Company (Tangedco) for setting up two thermal power units of 800 MW each at Uppur in Ramanathapuram district. A formal agreement between Tangedco and PFC was signed in New Delhi where PFC sanctioned a total of Rs.9,128 crore towards Uppur and upgrading Sholayar Power House-1 from 35 MW to 42 MW. The Uppur thermal project is being set up on 767.8 acres of land acquired from private owners of Uppur, Valamavoor and Thiruppalaikudi villages of Thiruvadanai taluk. Apart from this, Tangedco has nearly 227.36 acres of poromboke land.
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