PTC India Financial Services sanctions Rs 1,100-cr loans for power sector

New Delhi, Mar 21: PTC India Financial Services Ltd (PFS) has sanctioned loans of about Rs 1,100 crore to provide financial assistance to the power sector.

"PTC India Financial Services Ltd... sanctioned loans aggregating about Rs 1,100 crore for providing financial assistance to power/infrastructure sector in India," the company said in a release on BSE today.

These loans include four projects for renewable sector and two for transmission of power. PFS is a leading infrastructure finance company promoted by PTC India Ltd.

PFS CEO and MD Ashok Haldia said, "The company continues to expand and reinforce its presence in financing of clean energy projects and other emerging areas of power sector. This shall help in further growth of the company and help consolidate PFS' position as a leading institution financing renewable energy projects in India."

The company offers an array of financial products to infrastructure companies in the entire energy value chain. It also provides fee-based services such as loan syndication and underwriting. The stock of the company was trading at Rs 36.85 on BSE, up 1.80 per cent from its previous close.

PTI