Power Finance Corporation to extend Rs 15,000-crore to Andhra Pradesh government

HYDERABAD: Power Finance Corporation ( PFC) may extend a Rs 15,000-crore loan to the Andhra Pradesh government to improve power sector infrastructure facilities, it was officially announced here today.

The loan which would be extended for a two-year period, would pave the way for providing high quality, reliable and adequate power to the public, according to a press release issued by the AP government here today.

PFC Chairman and Managing Director M K Goyal held detailed discussions with AP Chief Minister N Chandrababu Naidu today and expressed satisfaction about providing electricity supply to all categories of consumers within a short period of four months, the release said.

According to the release, as much as Rs 7,000 crore would be extended as loan towards transmission, while distribution and power generation wings would get Rs 5,000 crore and Rs 3,000 crore, respectively.

Responding to a request by the AP state government, the public sector unit assured to provide special financial assistance under corporate social responsibility to develop infotech, energy conservation and agriculture solar pumpsets, the release said.