PFC loan sanctions touch all time high of Rs 69,498 cr

Mumbai, Apr 16 (UNI) Power Finance Corporation (PFC) today announced an all-time high loan sanction of Rs 69,498 crore in 2007-08, up by 123 per cent over the previous year with disbursements increasing by 15 per cent at Rs 16,211 crore.

Announcing the unaudited results for last fiscal, PFC Chairman and Managing Director V K Garg told newsmen here that in 2006-07 sanctions stood at Rs 31,146 crore and disbursements Rs 14,055 crore.

He said that Profit After Tax (PAT) for the year was Rs 1,209 crore, up by 23 per cent from Rs 986 crore in 2006-07.

He said some of the major loans sanctioned by PFC during the year include the Sikka thermal station in Gujarat, 2x250 MW Utran TPS of Gujarat, Kothagudem, Rayalaseemma and Krishnapatnam (2x800 MW) projects of Andhra Pradesh Generation Company (APGENCO).

The Cumulative sanctions and disbursements have touched Rs 1,86,418 crore and Rs 82,065 crore, he said, adding that the Corporation had so far financially supported projects worth over 70,000 MW of which 33,000 MW, accounting for 23 per cent of the country's installed capacity, had been commissioned.

Replying to a question, he said the request for proposal (RFP) for the Thillaia Ultra Mega Power Project (UMPP) to be set up near Ranchi will be released by May.

The PFC, which is the nodal agency for facilitating development of UMPPs had qualified 11 of the 13 bidders for the Thillaia project.

Referring to the Mundra UMPP awarded to Tata Power and Sasan UMPP to be taken up by Reliance Energy, he said ''These projects are to go on stream by the beginning of the 12th Five Year Plan.

However, the two companies have given an indication that the first units would be commissioned by the end of 11th Plan itself.

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