More Funds for Kiru Hydro Project at J&K from REC

  • REC Limited, a leading NBFC under the Ministry of Power, has signed a deal with Chenab Valley Power Project Private Limited (CPL) to provide financial assistance of 1,869.265 crores as a term loan. 
  • The loan will be used for the development, construction, and operation of the Greenfield 4×156 MW Kiru Hydro Electric Project on River Chenab in Kishtwar, Jammu & Kashmir. 
  • The project includes the construction of a 135-meter dam and an underground Power House with 4 units of 156 MW each. 
  • The agreement was signed in the presence of Managing Director, Shri Ramesh Mukhiya, General Manager (C&P), Shri Vasant Hurmade, General Manager (Finance), Shri Sanjay Kumar Gupta, and Deputy General Manager, Shri Pramod Kumar Soni; and Deputy General Manager, Shri Rishabh Jain from REC Limited. 
  • REC Limited, a ‘Maharatna’ Central Public Sector Enterprise, is registered with RBI as a Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC).
Posted in Current Affairs.