Singareni Collieries Company (SCCL), on 12 October 2011, signed the necessary documents for a loan from the PFC for a coal based power project in Andhra Pradesh.

SCCL will get a loan of Rs 3,980 crore for the proposed 1,200 MW (2x600) power project at Pegadapally in Adilabad district. The company also executed documents for operating an escrow account with State Bank of Hyderabad. The company plans to set up the power project with an investment of Rs 5,685 crore. The company had already issued a LoI to BHEL for supply of boiler and turbine generator. The first and second units are scheduled to be completed in 39 months and 43 months respectively from the date of placing the orders on BHEL. SCCL has signed a PPA with state DISCOMs for sale of 1,050 MW and the balance 150 MW is proposed to be utilised for captive consumption.

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