Shares of Indian Railway Finance Corp (IRFC) Ltd traded flat after hitting a day’s high of Rs 126 on 30th September, even as the company announced that it had signed two major loan agreements worth a combined Rs 16,489 crore to finance upcoming supercritical thermal power projects in Haryana and Maharashtra.

At its Panchkula headquarters, IRFC signed a loan agreement with Haryana Power Generation Corporation Ltd (HPGCL) for up to Rs 5,929 crore. The funding will support an 800 MW supercritical thermal power unit at Deenbandhu Chhotu Ram Thermal Power Plant in Yamunanagar. This will boost Haryana’s power supply for homes, industries, and agriculture.

Separately, at its New Delhi office, IRFC signed a Rs 10,560 crore loan deal with Maharashtra State Power Generation Company Ltd (MAHAGENCO) for a 2×660 MW expansion project at Koradi Thermal Power Station in Nagpur. The project will add 1,320 MW of capacity. It will replace older, less efficient units to ensure a reliable supply for the state’s industrial and agricultural needs.

Both projects are closely linked with Indian Railways. This is because coal transport for these thermal plants provides steady freight traffic. Additionally, the generated power also supports railway operations.

At 11:28 AM, the shares of IRFC were trading 0.60% higher at Rs 123.51 on NSE.

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