IRFC Extends INR 10,560 Crore Loan to MAHAGENCO for 1,320 MW Koradi Thermal Power Expansion
IRFC has signed a loan agreement of up to INR 10,560 crore with MAHAGENCO to finance the 1,320 MW supercritical expansion project at Koradi Thermal Power Station in Nagpur.
September 30, 2025. By Mrinmoy Dey
The loan agreement was signed at IRFC's headquarters in New Delhi between Sunil Kumar Goel, Chief General Manager, IRFC and Pankaj Sharma, CGM (Finance), MAHAGENCO.
The project, being implemented on the site at Koradi, is of strategic importance in ensuring reliable power supply to Maharashtra's industrial and agricultural consumers. With this expansion, MAHAGENCO will add 1,320 MW of modern supercritical capacity, replacing older, less efficient units. This financial support from IRFC will ensure smooth execution of the Koradi expansion.
Recently accorded Navratna status, IRFC is expanding its role as a diversified infrastructure financier within the railway ecosystem, with a mandate covering projects that have forward and backward linkages with railways such as power generation and transmission, mining, fuel, coal, warehousing, telecom, hotels and catering, metro rail, freight corridors, ports, and multimodal logistics.
This partnership also carries strong forward and backward linkages with Indian Railways. MAHAGENCO has executed multiple long-term Tripartite Agreements (TPAs) with Indian Railways for transportation of coal to its various power stations. Substantial operational and capital expenditure is incurred annually on coal freight, wagon handling, and associated logistics, contributing significantly to Indian Railways' freight revenues.
Speaking on the occasion, Manoj Kumar Dubey, Chairman and Managing Director and CEO, IRFC, said, “At IRFC, our priority is to support projects that are closely integrated with Indian Railways and deliver enduring benefits. By extending funding support to MAHAGENCO, we are not only enabling critical capacity addition in Maharashtra but also strengthening the railway infrastructure that is vital for nation building.”
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