Tamil Nadu Electricity Board has signed a loan agreement with Rural Electrification Corporation Ltd for Rs 2,475 crore to fund its 1x600 megawatt North Chennai Thermal Power station stage II Unit I project. The project is being implemented by BHEL on a single engineering, procurement and construction (EPC) contract in Thiruvallur District, North Chennai. The entire debt requirement of the project is funded by REC. The total project cost is Rs 3,095 crore.
TNEB has also awarded Stage-II Unit-II work to BHEL on similarly package by availing loan of Rs 2,175 crore from REC.
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