+
REC, PFC Fund Rs 268.5 Billion Meja Power Project
ECONOMY & POLICY

REC, PFC Fund Rs 268.5 Billion Meja Power Project

REC Limited and Power Finance Corporation (PFC), Maharatna CPSEs under the Ministry of Power, have signed a Common Loan Agreement with Meja Urja Nigam Private Limited (MUNPL) for a loan amount of Rs 268.5 billion for the development of the 2,400 MW Meja Thermal Power Project Stage-II in Prayagraj, Uttar Pradesh.

MUNPL is a 50:50 joint venture between NTPC Limited and Uttar Pradesh Raj Vidyut Utpadan Nigam Limited (UPRVUNL). The project involves the construction of three ultra-supercritical units of 800 MW each, equipped with an Air Cooled Condenser (ACC) system. The estimated project completion cost is Rs 383.58 billion.

REC is the lead financier for the project, while the loan amount will be funded jointly by REC and PFC in a 50:50 ratio.

The loan documents were signed in Prayagraj by Srinivasa Rao Gaddamanugu, Chief Executive Officer, MUNPL; Shambhu Shankar Gupta, Chief General Manager, REC Regional Office Lucknow; and Shelly Gupta, General Manager, PFC, in the presence of senior officials from MUNPL, PFC and REC.

The Meja Super Thermal Power Project Stage-II is expected to strengthen Uttar Pradesh’s energy security by ensuring reliable power supply for residential, agricultural and industrial consumers. The adoption of ultra-supercritical technology will improve efficiency, reduce coal consumption and lower emissions compared to older power plants.

The project is also expected to create employment opportunities during construction and operations, support infrastructure development in Prayagraj’s Meja tehsil, and provide stable power supply for industrial corridors, manufacturing clusters and urban expansion.

REC Limited and Power Finance Corporation (PFC), Maharatna CPSEs under the Ministry of Power, have signed a Common Loan Agreement with Meja Urja Nigam Private Limited (MUNPL) for a loan amount of Rs 268.5 billion for the development of the 2,400 MW Meja Thermal Power Project Stage-II in Prayagraj, Uttar Pradesh.MUNPL is a 50:50 joint venture between NTPC Limited and Uttar Pradesh Raj Vidyut Utpadan Nigam Limited (UPRVUNL). The project involves the construction of three ultra-supercritical units of 800 MW each, equipped with an Air Cooled Condenser (ACC) system. The estimated project completion cost is Rs 383.58 billion.REC is the lead financier for the project, while the loan amount will be funded jointly by REC and PFC in a 50:50 ratio.The loan documents were signed in Prayagraj by Srinivasa Rao Gaddamanugu, Chief Executive Officer, MUNPL; Shambhu Shankar Gupta, Chief General Manager, REC Regional Office Lucknow; and Shelly Gupta, General Manager, PFC, in the presence of senior officials from MUNPL, PFC and REC.The Meja Super Thermal Power Project Stage-II is expected to strengthen Uttar Pradesh’s energy security by ensuring reliable power supply for residential, agricultural and industrial consumers. The adoption of ultra-supercritical technology will improve efficiency, reduce coal consumption and lower emissions compared to older power plants.The project is also expected to create employment opportunities during construction and operations, support infrastructure development in Prayagraj’s Meja tehsil, and provide stable power supply for industrial corridors, manufacturing clusters and urban expansion.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Suzuki Targets 4 mn Units in India by FY30, Builds Global Hub

Suzuki Motor Corporation plans to raise annual production capacity in India to approximately 4 mn units from fiscal 2030, strengthening the country’s role as a manufacturing and export hub for its global operations. The Japanese car maker announced the target as part of its Technology Strategy 2026, which outlines its development and manufacturing priorities for the coming decade. The company also aims to improve development efficiency by 30 per cent from the FY20 level and manufacturing efficiency by 50 per cent by FY30. It plans to halve the lead time required to develop new vehicles by im..

Next Story
Infrastructure Transport

Ayodhya Airport to Add Flights to Delhi, Bengaluru and Mumbai

Ayodhya airport will get additional direct air services to Delhi and Bengaluru from October 1, followed by a daily non-stop connection to Mumbai from October 30. The existing IndiGo service to Hyderabad is also being prepared for conversion into a daily operation, widening travel options from the temple city. Passengers travelling to Delhi will have two direct options at different times of day from October 1. Akasa Air flight QP 1608 will depart Ayodhya at 12:50 pm and arrive in Delhi at 2:20 pm, while Air India Express flight IX 1274 will leave at 2:10 pm and reach the capital at 3:45 pm. Ind..

Next Story
Infrastructure Urban

Cement Prices Rise Again in Himachal Pradesh

Cement prices in Himachal Pradesh have increased for the second time this month, raising construction expenses for households, contractors and other consumers. Cement companies raised rates by Rs. 5 per bag on Friday, 10 days after a similar increase was implemented on September 15. The two revisions have lifted prices by a total of Rs. 10 per bag within 10 days. Dealers Pawan, Rohit, Manoj and Rakesh said the latest rates were being applied across the market, adding to the financial pressure on people building or renovating homes. ACC Suraksha cement is now priced at Rs. 425 per bag, compared..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code