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Money & Banking
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Financial Institutions
PFC in talks with equity players
Mumbai, Oct. 11
Power Finance Corporation is in talks with several
international private equity players for establishing
an equity fund for financing power projects in India.
"Currently, we are purely in an advisory role," said Dr
V.K. Garg, Chairman and Managing Director, at a news
conference on Wednesday. There are eight equity funds,
which are in talks with PFC, but eventually only two will
be chosen for the fund, said officials. Cornell, Blackstone
and Goldman Sachs were some of the international firms
that have shown interest, they said. Mr Garg, who refused
to name any of the international entitites, said the size of
the fund would depend on the kind of demand that is
seen from the power sector. "The participants must also
understand the mindset of the Indian entrepreneur," he
said. - Our Bureau
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