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PFC signs pact with MSEDCL for Rs 3,000 crore loan

Press Trust of India  |  New Delhi 

State-run Corporation (PFC) today said it has signed a loan agreement with State Electricity Distribution Co (MSEDCL) for financial assistance of Rs 3,000 crore.

This assistance will help MSEDCL meet its operational requirements within the working capital eligibility allowed under the UDAY scheme. The loan will help MSEDCL clear its outstanding power purchase liabilities also, PFC said in a statement.

The loan document was signed by S L Pimpalkhute, Director (finance), MSEDCL, in the presence of Rajeev Sharma, CMD, PFC.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 16 2017. 13:57 IST