PFC, US Exim bank in project finance pact
Power Finance Corporation has signed a memorandum of understanding with Exim Bank of US.
By INDIATIMES NEWS NETWORK |
MUMBAI: Power Finance Corporation has signed a memorandum of understanding with Exim Bank of US. Exim Bank has recently approved an India infrastructure facility that will support US exports to Indian projects in sectors such as power and renewable energy generation.
Power Finance Corp. is one of the financial institutions approved under this India infrastructure facility with a proposed allocation of $800 million.
The facility will be used by the borrowers of Power Finance Corp. for project related imports from US during two years. The special delegated line of credit under this facility will be subject to the approval of Reserve Bank of India and it will not require any guarantee from the government.
Power Finance Corp. shares ended up 2.26 per cent to Rs 155.95 on BSE.
Power Finance Corp. is one of the financial institutions approved under this India infrastructure facility with a proposed allocation of $800 million.
The facility will be used by the borrowers of Power Finance Corp. for project related imports from US during two years. The special delegated line of credit under this facility will be subject to the approval of Reserve Bank of India and it will not require any guarantee from the government.
Power Finance Corp. shares ended up 2.26 per cent to Rs 155.95 on BSE.
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