IRFC Loans Rs 106 Billion To MAHAGENCO For Koradi Project
POWER & RENEWABLE ENERGY

IRFC Loans Rs 106 Billion To MAHAGENCO For Koradi Project

Indian Railway Finance Corporation (IRFC) has signed a loan agreement worth up to Rs 106 billion with Maharashtra State Power Generation Company (MAHAGENCO) to fund the 2×660 MW supercritical expansion project at Koradi Thermal Power Station in Nagpur.
The agreement was formalised at IRFC’s headquarters in New Delhi, with Sunil Kumar Goel, Chief General Manager, IRFC, and Pankaj Sharma, CGM (Finance), MAHAGENCO, signing on behalf of their organisations.
The project will add 1,320 MW of modern supercritical capacity, replacing outdated and less efficient units, and will play a key role in ensuring reliable electricity supply for Maharashtra’s industrial and agricultural sectors. Financial backing from IRFC will help enable smooth implementation of the expansion.
Recently accorded Navratna status, IRFC is widening its role as a diversified infrastructure financier in the railway ecosystem. Its mandate extends to power generation and transmission, mining, fuel, coal, warehousing, telecom, hotels and catering, metro rail, freight corridors, ports, and multimodal logistics, all of which maintain strong forward and backward linkages with Indian Railways.
MAHAGENCO already has several long-term Tripartite Agreements (TPAs) with Indian Railways for coal transportation to its plants. Significant capital and operational expenditure on coal freight, wagon handling, and related logistics directly contribute to Indian Railways’ freight earnings.
Commenting on the development, Manoj Kumar Dubey, Chairman and Managing Director and CEO of IRFC, said, “At IRFC, our priority is to support projects that are closely integrated with Indian Railways and deliver enduring benefits. By extending funding support to MAHAGENCO, we are not only enabling critical capacity addition in Maharashtra but also strengthening railway infrastructure that is vital for nation building.”

Indian Railway Finance Corporation (IRFC) has signed a loan agreement worth up to Rs 106 billion with Maharashtra State Power Generation Company (MAHAGENCO) to fund the 2×660 MW supercritical expansion project at Koradi Thermal Power Station in Nagpur.The agreement was formalised at IRFC’s headquarters in New Delhi, with Sunil Kumar Goel, Chief General Manager, IRFC, and Pankaj Sharma, CGM (Finance), MAHAGENCO, signing on behalf of their organisations.The project will add 1,320 MW of modern supercritical capacity, replacing outdated and less efficient units, and will play a key role in ensuring reliable electricity supply for Maharashtra’s industrial and agricultural sectors. Financial backing from IRFC will help enable smooth implementation of the expansion.Recently accorded Navratna status, IRFC is widening its role as a diversified infrastructure financier in the railway ecosystem. Its mandate extends to power generation and transmission, mining, fuel, coal, warehousing, telecom, hotels and catering, metro rail, freight corridors, ports, and multimodal logistics, all of which maintain strong forward and backward linkages with Indian Railways.MAHAGENCO already has several long-term Tripartite Agreements (TPAs) with Indian Railways for coal transportation to its plants. Significant capital and operational expenditure on coal freight, wagon handling, and related logistics directly contribute to Indian Railways’ freight earnings.Commenting on the development, Manoj Kumar Dubey, Chairman and Managing Director and CEO of IRFC, said, “At IRFC, our priority is to support projects that are closely integrated with Indian Railways and deliver enduring benefits. By extending funding support to MAHAGENCO, we are not only enabling critical capacity addition in Maharashtra but also strengthening railway infrastructure that is vital for nation building.”

Next Story
Infrastructure Energy

GAIL to Set Up Bengaluru CBG Plant Under New Concession Pact

GAIL (India) Limited has signed a 20-year concession agreement with the Bengaluru City Municipal Corporation (BBMP) to set up a compressed biogas (CBG) plant in the city. The project, expected to produce around 10 tonnes of CBG daily, will utilise municipal solid waste as feedstock, contributing to clean energy generation and efficient waste management. The CBG produced will be used in GAIL’s City Gas Distribution network to promote cleaner fuel usage. The initiative aligns with the government’s Sustainable Alternative Towards Affordable Transportation (SATAT) scheme and GAIL’s broader ..

Next Story
Infrastructure Energy

Uttarakhand HC Lifts 31-Year Ban on ONGC’s Contractual Hiring

The Uttarakhand High Court has lifted a 31-year-old ban on the Oil and Natural Gas Corporation (ONGC) from hiring contractual workers, a restriction imposed in 1993. The decision enables ONGC’s Dehradun establishment to employ personnel on a contractual basis to meet operational requirements. The long-standing prohibition had limited ONGC’s ability to fill vacancies in its technical and administrative departments, often leading to project delays and higher dependence on outsourcing. With the court’s directive, the public sector enterprise can now proceed with temporary recruitments whil..

Next Story
Infrastructure Energy

JSW Energy’s Utkal Unit Bags 400 MW, 25-Year Power Supply Deal

JSW Energy Limited announced that its subsidiary, JSW Energy (Utkal) Limited, has secured a Letter of Award (LoA) from Karnataka’s Power Company of Karnataka Limited (PCKL) for the supply of 400 MW of electricity for 25 years. The agreement is part of a competitive bidding process for long-term procurement of power to meet the state’s growing energy demand. The 400 MW capacity will be supplied from JSW Energy’s upcoming thermal power project in Odisha. This development strengthens JSW Energy’s presence in the southern market and aligns with its strategy to enhance long-term contracte..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?