REC Ltd & Power Finance Corporation Limited sanctions Rs. 672.86 crore each to MeECL/MePDCL

REC Ltd & Power Finance Corporation Limited sanctions Rs. 672.86 crore each to MeECL/MePDCL

Shillong, Mar 16: State Power Minister, James Sangma on Tuesday informed that the total amount of loan sanctioned by the government of India agencies under Atmanirbhar Bahar Abhiyam to MeECL/MePDCL is 1345.72 crore.

Replying during the Question Hour, Sangma said that REC Ltd and Power Finance Corporation Limited have sanctioned Rs. 672.86 crore each to the MeECL/MePDCL.

“The total amount of loan availed by MeECL/MePDCL from and REC Ltd and Power Finance Corporation Limited is Rs. 193.43 crore each totaling to an amount of Rs. 386.86 crore.

Sangma also informed the House that the rate of interest to be paid for the loan by MeECL/MePDCL is 9.5 percent.

The Power Minister also informed the House that for the loan amount availed for Rs. 193.43 crore each from REC Ltd and Power Finance Corporation Limited the average monthly requirement for payment of interest is Rs. 1.53 crore each totaling to an average monthly requirement of Rs. 3.06 crore.