PFC signs Rs 5,180cr deal with Aravali Power

Power Finance Corporation (PFC) today announced that it had signed the largest-ever loan agreement for Rs 5,180 crore with Aravali Power Company for the execution of the 1,500 Mw coal-based Indira Gandhi super thermal power project at Jhajjar, Haryana.

"This is the largest-ever loan sanctioned by PFC for any power project," a statement issued by PFC said today.

Aravali Power is a joint-venture firm between NTPC and the state governments of Delhi and Haryana. While NTPC holds 50% stake in Aravali Power, the state governments own 25% each in the venture.

Power generated from the project would be shared between Delhi and Haryana in equal proportions.

Aravali Power has acquired the land required for the 3x500 Mw project, which is expected to be completed by October 2010.