News Brief | September 2012
AP to get Rs 10,873 cr REC loan for 3 projects
Power sector lender Rural Electrification Corporation (REC) has approved a loan of Rs 10,873 crore to fund three key power projects in Andhra Pradesh.
A memorandum of understanding (MoU) has been recently signed between REC and AP Genco for facilitating the loan.
The state government has directed AP Genco to take up these three projects on a fast-track mode. The projects are Vijayawada thermal power plant expansion of 800 mw, Kotahgdeum project expansion of 800 mw and Polavarma hydel power project of 960 mw (12x80).