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IRFC emerges as lowest bidder to finance Rs 3,167 crore for Jharkhand mine
Jan-15-2025

Indian Railway Finance Corporation (IRFC) has emerged as the L1 bidder for financing Rs 3,167 crore for the development of the Banhardih Coal Block in Latehar District, Jharkhand. This project is being undertaken by Patratu Vidyut Utpadan Nigam (PVUNL), a joint venture between NTPC (74% equity stake) and Jharkhand Bijli Vitran Nigam (26% equity stake). The Banhardih Coal Block has been allocated to PVUNL as a captive coal source. Coal from the block will be transported to Chetar Station via Mine-Gain-Rail (MGR) and then to PVUNL's project site using Indian Railways.

The proposal is subject to further due diligence and approval of Board of Directors and finalisation of detailed sanctioned terms with PVUNL.

Indian Railway Finance Corporation (IRFC) is the dedicated market borrowing arm of the Indian Railways.

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