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    PFC signs MoU with NBPCL to fund projects worth Rs 22,000 crore

    Synopsis

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

    PowerAgencies
    PFC will consider the financial assistance to NBPCL based on due diligence and on mutually acceptable terms, the statement said.
    Power Finance Corporation on Tuesday said it entered into an agreement with Narmada Basin Projects Company Ltd (NBPCL), a wholly-owned company of government of Madhya Pradesh, to fund projects worth Rs 22,000 crore.

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

    The MoU was signed on a virtual platform by PFC chairman and managing director Rajeev Sharma and NBPCL managing director I C P Keshari. Madhya Pradesh 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, it said.

    The MoU will help PFC to actively partner with NBPCL and provide finance for hydro-electric plants totaling 225 MW along with power components of multipurpose projects as part of state government’s endeavor to implement twelve major multipurpose projects.

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

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



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