PFC eyes 26% in power projects | business | Hindustan Times
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PFC eyes 26% in power projects

business Updated: Mar 16, 2010 21:21 IST
Press Trust of India
Press Trust of India
Hindustan Times
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State-owned Power Finance Corp (PFC) is keen on picking up 26 per cent stake in power generation projects. PFC provides and arranges finance for projects in the power sector.

“Right now we are working out a policy to decide on picking equity stake in power generation projects. We would prepare a framework and any company that fits the criteria would be approached,” PFC Chairman and Managing Director Satnam Singh said on Tuesday.

The company will partly utilise its networth of Rs 12,000 crore for acquiring stakes in electricity generation plants.

“We would evaluate as to how much of our networth would be used for the purpose,” Singh said, adding, the company has a networth of Rs 12,000 crore.

The company has set a target of sanctioning Rs 68,000 crore worth of loans for various power generation, transmission and distribution projects in the country during the next financial year. PFC would disburse loans worth Rs 29,000 crore during the same period.

“Our loan sanction target for the next fiscal is Rs 68,000 crore and disbursement is Rs 29,000 crore,” Singh added.