Companies

PFC to finance projects worth ₹22,000 crore in Madhya Pradesh

Our Bureau New Delhi | Updated on May 26, 2020

State government has cleared the projects after pre-feasibility study

Power Finance Corporation (PFC) has entered into an agreement with Narmada Basin Projects Company Limited (NBPCL) on Monday to fund ₹22,000 crore for hydro-electric and multipurpose projects in Madhya Pradesh.

The funds will be deployed by NBPCL for setting up hydroelectric projects of 225 MW and power components of 12 major multipurpose projects in the State.

The State government has conducted the pre-feasibility study of these projects and has provided approval for their execution. The disbursal of the amount will be linked to the execution of the projects.

Some of the major multipurpose projects that will be financed under the agreement are Basaniya Multipurpose Project Dindori, Chinki Boras Multipurpose Project Narsinghpur Raisen Hoshangabad, Sakkar Pench Link Narsinghpur Chhindwara, Dudhi Project Chhindwara Hoshangabad, among others.

PFC will consider the financial assistance to NBPCL based on due diligence and on mutually acceptable terms, a company statement said.

Published on May 26, 2020

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