PFC Forays into funding of Airport projects, sanctions Rs. 15,000 cr.

 Shillong: Power sector Maharatna enterprise PFC in a Board Meeting held today in Shillong, capital of Meghalaya,  reaffirmed its commitment towards developing the power sector of the North East India. PFC sanctioned loans amounting to Rs.15,000 crore for various projects during the meeting chaired by Smt. Parminder Chopra CMD.

As part of its diversification strategy and funding for Infrastructure Projects, PFC sanctioned its maiden financing for a Greenfield Airport project in Andhra Pradesh according to a company Press Release.

PFC’s Board of Directors also reviewed strategic agendas pertaining to the Company’s business diversification strategy, including exploring avenues for expanding the business into new market segments and accelerating the funding in the Renewable Space, the current domestic and international market scenario and its impact on PFC’s borrowing cost, and strengthening of internal systems to improve asset quality.

The meeting was attended by Mr. Rajiv Ranjan Jha, Director (Projects); Manoj Sharma, Director (Commercial); Ajay Tewari, Director (Govt. Nominee); and Independent Directors Bhaskar Bhattacharya, Smt. Usha Sajeev Nair, and Prasanna Tantri.

PFC is playing a pivotal role in financing India’s Energy Transition goals apart from funding power & infrastructure sectors and is also implementing key power sector initiatives of the Government of India, including Revamped Distribution Sector Scheme (RDSS) and Late Payment Surcharge (LPS) rules.