APRIL 20248TOP STORIESRVNL SECURES CONTRACT TO SETUP TRANSMISSION FACILITY IN CENTRAL AFRICANTPC SECURES CAPITAL VIA FOREIGN CURRENCY LOANSA joint venture between state-owned Rail Vikas Nigam (RVNL) and private steel player Salasar Techno Engineering has secured a transmission project valued at approximately Rs 60 crore in the central African nation of Rwanda. The contract, awarded by Energy Development Corporation (EDCL), is expected to be completed within 18 months, according to a statement released by Salasar Techno Engineering (STEL) on Friday.The Rwanda Transmission System Reinforcement and Last Mile Connectivity project (TSRLMC) has a total worth of $ 7.152 million, equivalent to Rs 596.21 million (Rs 59.6 crore). It involves the design, supply, and installation of 45.8 km of 110 KV double circuit Rukarara-Huye-Gisagara transmission lines.Earlier in the month, the joint venture secured another transmission project valued at around Rs 174 crore from the government of Madhya Pradesh. RVNL holds a 51percent stake in the joint venture, while STEL owns the remaining 49percent.RVNL, a subsidiary of the Ministry of Railways, is responsible for the development, financing, and implementation of rail infrastructure projects. On the other hand, STEL specializes in manufacturing steel structures and provides services across sectors including telecom, energy, and railways. State-owned power company NTPC announced on Tuesday that it has entered into an agreement with Japan Bank for International Cooperation (JBIC) for sourcing foreign currency loans totaling $200 million (equivalent to JPY 30 billion or approximately Rs 1,650 crore).Under the agreement, JBIC, a government policy-based financial institution of Japan, will provide 60percent of the loan facility, while the remaining balance will be sourced from other commercial banks under JBIC guarantee.The agreements have been signed for separate JPY 15 billion loans each for NTPC and NTPC Renewables Energy Ltd (NREL), the statement added.This funding has been extended under JBIC's initiative named 'Global action for Reconciling Economic growth and Environment preservation' (GREEN), aimed at supporting projects that contribute to environmental conservation on a global scale.The loan proceeds will be utilized by NTPC to finance a portion of its capital expenditure requirements for Flue Gas Desulphurization (FGD) projects. FGD technology significantly reduces sulfur dioxide (SOx) emissions in the flue gases of thermal power stations, aligning with environmental sustainability objectives.This marks the second loan extended to NTPC under JBIC's GREEN operations in India.The funds allocated to NREL will support its capital expenditure for renewable energy projects, aligning with its mission to provide reliable, affordable, and sustainable energy solutions.
< Page 7 | Page 9 >