New Delhi, March 06: Power Finance Corporation Ltd. (PFC) has signed a Memorandum of Understanding (MoU) in Vishakhapatnam during the first day of Global Investors Summit 2023 hosted by Govt. of Andhra Pradesh. The MoU envisagesproviding financial assistance for projects in Power & allied sectors and Infrastructure projects in the State of Andhra Pradesh which will facilitate development & economic growth in the State. Presently the envisaged funding for generation, transmission, distribution and infrastructure projects is approx. Rs. 36000 crore.
The MoUwas signed by Ravinder Singh Dhillon, CMD, PFC and Sagili Shan Mohan (IAS), MD, APMIDCL, on behalf ofGoAP,in the presence of PeddireddyRamachandra Reddy, Minister of Energy, GoAP,K.Vijayanand, IAS, Special Chief Secretary (Energy), GoAP, Rajiv RanjanJha, Director (Projects), PFC, Smt. ShehlaSadaf, General Manager (Projects), PFCalong with other senior officials of GoAP&PFC.
TheMoU underlines the PFC’s commitment towards playing a pivotal role in powering the nation’s aspirational journey towards a sustainable future.
PFC has been a partner in the continuous growth and development in the State with a cumulative sanction of about Rs.86000 crore and cumulative disbursement of about Rs. 66000 crore to the State Utilities of AP.