NTPL signs pact with banks for 1,000-MW project
A consortium of banks which includes Bank of India, Indian Bank and Central Bank of India has agreed to lend Rs. 937 crore for the 1,000-MW NTPL power project, a joint venture of the Neyveli Lignite Corporation and the Tamil Nadu Power Generation and Distribution Corporation. The project is being set up at Tuticorin in Tamil Nadu. The project would be taken up at an estimated cost of Rs. 4,909.54 crore.
The first unit of 500 MW is expected to start operating in December 2013 and the second unit with the similar capacity would begin operation in March 2014. The power generated from the project would be distributed among Tamil Nadu, Kerala, Karnataka and Puducherry.