PFC seeks info on Globeleq

NEW DELHI: Power Finance Corporation (PFC) has sought a clarification of Globeleq Singapore’s position, its ownership and guarantees offered in the consortium. PFC is the nodal agency for the 4000-MW ultra mega power projects,

Sources said that PFC has sent a letter asking Globeleq Singapore and Lanco Infratech to resubmit their balance sheet, clarifying ownership issues and equity partnership in the consortium to set up Sasan. When contacted, Lanco officials said that till this evening they were yet to receive any letter, though they were aware that such a letter was being sent to Globeleq Singapore. It is believed that Power Finance Corporation will approach the law ministry for a final view on the status of the project after it receives the information from Globeleq Singapore and Lanco.

Sources in PFC said that it has already approached the law ministry for advice on the Sasan power project. The legal review has been necessitated by the change in owenership of Globeleq Singapore, the lead partner of the Globeleq-Lanco Infratech consortium that won the bid to develop the 4000MW Sasan project.