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Punjab National Bank (PNB) has offered Meja Urja Nigam Personal Restricted with the monetary help of Rs 250 crore, a enterprise official introduced on Friday (01-07-2022).
The cash, in line with its Extra Normal Supervisor (AGM), Amit Rautela, can be used to repay present loans. Meja Urja Nigam Personal Restricted (MUNPL) and PNB have partnered to supply a 250 crore rupee short-term credit score. In response to him, it has been raised with the intention of reducing the corporate’s financing prices, which might finally enable all beneficiaries and stakeholders to achieve.
The partnership with PNB would undoubtedly enhance MUNPL’s business relationship with PNB, in line with MUNPL CEO Anil Kumar. “The agency is working extraordinarily aggressively in minimizing all of the bills concerned with the ability,” Kumar added.
State-owned NTPC Restricted and Uttar Pradesh Rajya Vidyut Utpadan Nigam Restricted have a 50:50 three way partnership (JV) known as MUNPL (UPRVUNL). The primary supercritical energy plant in Uttar Pradesh is the Meja Thermal Energy Plant (MTPP), which is 45 kilometers from the Prayagraj district.
The JV was established in 2008 to construct a 1,320-megawatt coal-based plant in Meja that will start working commercially in January 2021. The venture may have two 660 MW models.
The agency had a web revenue of Rs. 278 crore throughout FY 2021–2022 A number of states and Union Territories (UTs) get the electrical energy generated by MUNPL by way of the grid. Within the presence of a number of senior officers from each organizations, Ashok Kumar Sinha, Head of Finance at MUNPL, and R Okay Singh, AGM of PNB, signed the credit score facility settlement on Thursday.
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