New Delhi, Apr 3 (PTI) State-owned PFC on Thursday said it has sanctioned Rs 3,517 crore worth of loan to Chhattisgarh East Railway Limited (CERL) for implementing the East Rail Corridor Project in Chhattisgarh.

CERL is a joint venture of South Eastern Coalfields Limited (SECL), IRCON, and Chhattisgarh State Industrial Development Corporation Limited (CSIDCL), PFC said in a statement.

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The loan documents for a term loan amounting to Rs 3,516.68 crore were executed on March 28, 2025, PFC said.

The under-construction railway project is being developed primarily for transporting coal from multiple coal mines in the vicinity and connecting them to thermal power plants.

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Under Ministry of Power, PFC is a nodal agency for development of Integrated Power Development Scheme, Ultra Mega Power Projects and Bid Process Coordinator for Independent Transmission Projects.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)