PTC India Financial Services sanctions Rs 1,032 crore to 9 projects

To diversify in energy value chain

PTC India Financial Services (PFS), an infrastructure finance company set up by PTC India with emphasis to finance projects in the power sector has expanded its horizon with aim to diversify in the energy value chain. The company's board in its meeting held in March 2013 has sanctioned term loans to nine projects aggregating to more than Rs 1,000 crore with 50% of sanction i.e. around Rs 500 crore to infrastructure facilities like development of private railway sidings, and development & operation of coal mines.

These include two pioneer private railway siding projects being developed in state of Chhattisgarh to offload coal from coal mines to be transported to respective power stations using Indian Railways network. PFS has sanctioned term loan to two projects for development and/or operations of coal mines allotted under government dispensation route.

The company has also sanctioned a loan of Rs 125 crore to part finance mega size Power Transmission project for setting up 765/400KV transmission line of around 1600 kms along with construction of 5 extra-high-voltage substation aggregating transformation capacity of 4400 MVA in Uttar Pradesh. Around Rs 400 crore are sanctioned to hydro projects supporting existing and additional generation capacity of around 1034 MW.

The company would continue to support power sector projects with consistent efforts to expand and diversify in energy value chain. The company has also recently started financing of purchase of power and RECs on energy exchanges. The company so far has sanctioned term loan aggregating more than Rs 11,000 crore to about 100 power projects, which are expected to support capacity creation of more than 30,500 MW.

The company made this announcement after the trading hours on 11 April 2013.

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