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Tangedcoan agreement with REC for a 10,453 crore loan for setting up two 660MW thermal units

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(G.N.S) Dt. 13
Chennai
Tangedco on Friday signed an agreement with Rural Electrification Corporation (REC) for a 10,453 crore loan for setting up two 660MW thermal units at Udangudi in Tuticorin district. Though the project was announced in 2008, work on them was delayed on account of a pending case in Madras high court, between Bhel and Chinese consortium, that finally came to an end last month.
“The loan agreement is for 13 years and at the rate of 9.75 % interest per annum. Work on the two units with a capacity of 660MW each has now started with Bhel acquiring land to the extent of 1,046 acres. We will have to get clearance from the forest department alone, other works will start immediately,” said a senior Tangedco official.

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