Railway Financier IRFC to Fund Rs 3,167 Crore Jharkhand Coal Mine Development
15th Jan 2025
IRFC Emerges as Lowest Bidder for Jharkhand Coal Project
Shares of Indian Railway Finance Corporation Ltd (IRFC) are in focus after the railway PSU said it has emerged as the L1 bidder for financing Rs 3,167 crore for the development of the Banhardih Coal Block in Latehar district of Jharkhand. The project is being undertaken by Patratu Vidyut Utpadan Nigam Limited (PVUNL), a joint venture between NTPC Ltd (74% equity stake) and Jharkhand Bijli Vitran Nigam (26% equity stake). 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.
IRFC-REMC Collaboration on Renewable Energy Financing
On January 2, IRFC signed a Memorandum of Understanding with REMC to collaborate on financing Renewable Energy (RE) projects awarded by REMCL for supply to Indian Railways. The partnership extends to exploring financing options for Thermal, Nuclear, and Renewable power projects established under a Captive model through joint ventures involving Indian Railways and other entities.
Upcoming IRFC Board Meeting
The board of directors of IRFC will meet on Monday, January 20, to consider and approve the financial results and cash flow statement for the quarter and nine months ended December 31.
Shares of Indian Railway Finance Corporation Ltd (IRFC) are in focus after the railway PSU said it has emerged as the L1 bidder for financing Rs 3,167 crore for the development of the Banhardih Coal Block in Latehar district of Jharkhand. The project is being undertaken by Patratu Vidyut Utpadan Nigam Limited (PVUNL), a joint venture between NTPC Ltd (74% equity stake) and Jharkhand Bijli Vitran Nigam (26% equity stake). 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.
IRFC-REMC Collaboration on Renewable Energy Financing
On January 2, IRFC signed a Memorandum of Understanding with REMC to collaborate on financing Renewable Energy (RE) projects awarded by REMCL for supply to Indian Railways. The partnership extends to exploring financing options for Thermal, Nuclear, and Renewable power projects established under a Captive model through joint ventures involving Indian Railways and other entities.
Upcoming IRFC Board Meeting
The board of directors of IRFC will meet on Monday, January 20, to consider and approve the financial results and cash flow statement for the quarter and nine months ended December 31.