PFC sanction INR 10,000 crore financial assistance to NTPC
Monday, 12 Oct 2009
Project Today reported that PFC has sanctioned a credit line of INR 10,000 crore to NTPC for its various projects to be completed in the current 11th Five-Year Plan. As per release both the companies are likely to sign a MoU to this effect shortly. The funds are expected to be disbursed in tranches.
NTPC is planning to raise its capacity from the current 30,000 to 50,000 MW by 2012. It has earmarked over INR 13,200 crore CAPEX in the current fiscal and the PFC loan is likely to be partly used for projects being undertaken in the last fiscal. It has tied up loans worth INR 21,809 crore for capacity expansion plans from various domestic banks and other financial institutions.
