It aims at achieving turnaround for debt-trapped utility in 3 years
The State Government has approved a financial restructuring plan for the Tamil Nadu Generation and Distribution Corporation (Tangedco) aimed at achieving a turnaround for the debt-trapped power utility in three years.This is line with the Centre’s scheme for financial restructuring of power distribution companies.
An immediate impact of the development is that banks will fund 70 per cent of the Corporation’s estimated loss for the current year with the State government meeting 30 per cent as subsidy.
