INSUBCONTINENT EXCLUSIVE:
PFC, under the Ministry of Power, is the largest non-banking financial company (NBFC).1 min read Last Updated : Jun 14 2024 | 11:05 PM
IST
State-owned PFC on Friday said it has signed an agreement with the Chenab Valley Power Project Private Limited (CVPPPL) to extend a
term loan of Rs 1,869.265 crore.
The CVPPPL is a 51:49 per cent Joint Venture of NHPC LTD and Jammu And Kashmir State Power Development
Corporation Limited (JKSPDC), Power Finance Corporation (PFC) said in a statement.
PFC signed an agreement with CVPPPL for Rs 1,869.265
crore term loan, it added.
With this agreement, the financial closure for Kiru HEP (hydroelectric project) for Rs 3,738.53 crore has been
achieved, PFC said.
As per the agreement, the loan will be used to develop and construct the greenfield Kiru Hydro Electric Project (4x156
MW) on the river Chenab in the Kishtwar District of Jammu - Kashmir.
PFC, under the Ministry of Power, is the largest non-banking
financial company (NBFC).(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of
the content is auto-generated from a syndicated feed.)First Published: Jun 14 2024 | 11:05 PMIST
