| TNEB inks MoU with PFC |
| BS Reporter / Chennai April 11, 2008 |
| In an attempt to improve the efficiency of sugar mills in the state, the Tamil Nadu Electricity Board has signed a memorandum of understanding (MoU) with the Power Finance Corporation to set up co-generation projects. Under the terms of the MoU, PFC has sanctioned about Rs 1,200 crore for TNEB to generate around 250 MW of power out of cooperative and public sector sugar mills in the state, a PFC release said on Friday. PFC will render its finance assistance to set up co-generation projects at about 17 cooperative and public sector sugar mills in Tamil Nadu. The MoU to this effect was signed between the two entities on March 31 in New Delhi. TNEB has been allocated a budget of Rs 335 cr for 2008 by the Tamil Nadu government. Stung by criticism from the industry over frequent power cuts, the Tamil Nadu government is moving to enhance power capacity in a big way. Work on TNEB |
