Indian Railway Finance signs lease agreement with NTPC Ltd for up to Rs 700 crores
In line with this board sanction, IRFC has entered into a lease agreement with NTPC Ltd for 8 BOBR rakes, amounting to approximately INR 250 crores in the first phase.
Indian Railway Finance signs lease agreement with NTPC Ltd for up to Rs 700 crores
Railway financing arm, Indian Railway Finance Limited (IRFC), a Public Sector Enterprise under the Ministry of Railways, has signed a Lease Agreement with NTPC, a Public Sector Enterprise under the Ministry of Power, dated 15th January 2025. The IRFC board approved financing for 20 BOBR rakes procured under the General Purpose Wagon Investment Scheme (GPWIS) of Indian Railways for an amount of up to INR 700 crores on a finance lease basis on 8th October 2024.
In line with this board sanction, IRFC has entered into a lease agreement with NTPC Ltd for 8 BOBR rakes, amounting to approximately INR 250 crores in the first phase.
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The agreement was signed by Mr. Sunil Kumar Goel, Group General Manager & CFO, of IRFC Ltd., and Mr. Balaji Bhagwatro Narare, Chief General Manager, of NTPC, in the presence of senior officials from both organizations on 15th January 2025. The financing highlights IRFC’s continued commitment to provide innovative financing solutions for infrastructure development.
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