E-Paper
MUNPL ties up with Indian Bank for short-term loan of ₹250 crore
During FY 2021-22 MUNPL achieved a profit of ₹278 crore. The electricity generated by MUNPL is supplied to several states and Union territories such as Uttar Pradesh, Rajasthan, Jammu and Kashmir (J&K), Punjab, Uttarakhand, Chandigarh and Madhya Pradesh.
Meja Urja Nigam Private Limited (MUNPL), a joint venture of NTPC Limited and Uttar Pradesh Rajya Vidyut Uttpadan Nigam Limited (UPRVUNL), has tied up with the Indian Bank for a short-term loan of ₹250 crore, informed MUNPL officials here on Thursday.
The agreement was penned in presence of Anil Kumar, CEO of MUNPL, Ashok Kumar Sinha, head of finance at MUNPL, Piyus Kumar, GM (Operation and Maintenance) of MUNPL, Chandra Bhushan Kumar, branch head of Indian Bank and other senior executives of MUNPL and Indian Bank on Wednesday, they added.
Speaking on the occasion, Anil Kumar, CEO of MUNPL said that MUNPL is always committed to providing reliable power in an economical, efficient and eco-friendly manner. In order to ensure fuel security, the company has tied up 5 lakh metric tons of imported coal through competitive bidding, he added.
He further said that MUNPL is also going ahead in the implementation of environment-friendly technologies like the ‘flue gas discharge system’ which will be operational in near future.
Binoy Kumar Singh, field general manager of Indian Bank expressed his pleasure in the bank’s association with MUNPL.
In his address, he said that being a joint venture of power giant NTPC Limited, MUNPL has the inherent strength to be the best in the power sector field because of which the bank has extended the facility at the lowest interest rate. He further appreciated the company’s commitment to the environment and overall development of the surrounding in addition to the running of a commercially viable power plant.
It is worth mentioning that during FY 2021-22 MUNPL achieved a profit of ₹278 crore. The electricity generated by MUNPL is supplied to several states and Union territories such as Uttar Pradesh, Rajasthan, Jammu and Kashmir (J&K), Punjab, Uttarakhand, Chandigarh and Madhya Pradesh.
