Indian Railway Finance Corporation (IRFC), the dedicated financing arm of the Ministry of Railways, has signed a major term loan agreement with Haryana Power Generation Corporation Limited (HPGCL).
The deal, valued at up to ₹5,929 crore, will finance the development of an 800 MW supercritical thermal power project at the Deenbandhu Chhotu Ram Thermal Power Plant in Yamunanagar.
This project is considered of strategic importance as it aims to significantly strengthen Haryana’s power supply for households, industries, and agriculture. By adding this modern, high-efficiency unit, HPGCL is set to substantially increase the state’s power generation capacity.
HPGCL is a wholly-owned undertaking of the Government of Haryana and serves as the state’s primary power generation utility.
For IRFC, a ‘Navratna’ status company, this agreement marks a significant step in its strategy to diversify its role as an infrastructure financier.
Established in 1986, IRFC is expanding its financing mandate beyond core railway assets to include projects that have strong “forward and backward linkages” with the railways.
This includes sectors like power generation, mining, ports, and multimodal logistics. The company continues to maintain a robust financial profile, highlighted by its zero Non-Performing Asset (NPA) portfolio.
The partnership creates a powerful synergy with Indian Railways. HPGCL’s thermal plants depend on coal transported by the railways, which ensures consistent freight traffic.
The power generated from the new plant will be fed into the Northern Grid, directly supporting the energy and traction requirements of Indian Railways within Haryana.
Speaking on the occasion, Shri Manoj Kumar Dubey, Chairman and Managing Director of IRFC, stated, “At IRFC, our focus remains on financing projects of national importance that are closely integrated with Indian Railways”.
He added that supporting HPGCL not only adds critical power capacity in Haryana but also “reinforces the linkages that strengthen India’s railway infrastructure and contribute to nation building”.
This information was formally disclosed to the National Stock Exchange of India and BSE Limited in a press release. The filing was signed on behalf of Indian Railway Finance Corporation Limited by Vijay Babulal Shirode, Company Secretary & Compliance Officer.
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जो व्यक्ति सुख-दुःख की परिस्थितियों में भी समान भाव रखता है, वही सच्चा ज्ञानी है। उसकी शांति और धैर्य उसे मोक्ष की ओर ले जाते हैं।
Those who remain balanced in happiness and distress, unaffected by dualities, are true seekers of wisdom. Their calmness and patience lead them toward liberation.
