PFC targets disbursal of loans worth Rs 23k crore in FY10

Power Finance Corporation (PFC), the country’s largest power sector financier, is eyeing disbursals of around Rs 23,000 crore by the end of the current financial year ended March 2010.

“We will disburse around Rs 23,000 crore this year. So far, we have disbursed Rs 3,000 crore,” said Chairman and Managing Director Satnam Singh. Last year, the company had managed to exceed its target of Rs 18,000 crore by disbursing loans of Rs 21,054 crore.

Singh added that the company was planning to sanction loans worth Rs 20,000 crore by the year-end. Last year, the Navratna public sector undertaking had sanctioned loans over Rs 57,000 crore, as against a target of Rs 50,000 crore. The company had posted a 12.2 per cent increase in profit-after-tax (PAT) at Rs 1,355 crore for the financial year ended March 2009. Total income had also increased 30 per cent to Rs 6,583 crore last year.

 

Singh also informed that the site for locating the second ultra mega power project (UMPP) in Andhra Pradesh has been finalised at Kotapet. PFC is the nodal agency for implementing the government’s showcase UMPP scheme under which above 50,000 Mw of power generation capacity is planned to be set up through 13 such mega projects which will come up largely in the 12th Plan period.

The government has already awarded four such UMPPs to private power developers in Gujarat, Madhya Pradesh, Jharkhand and Andhra Pradesh.

Singh said that the Request for Qualifications (RFQs) for three more UMPPs in Tamil Nadu, Orissa and Chhattisgarh would be invited soon.