Latest News | PFC Signs Agreement with CVPPPL for Rs 1,870 Cr Loan Agreement

New Delhi, Jun 14 (PTI) State-owned PFC on Friday said it has signed an agreement with the Chenab Valley Power Project Private Limited (CVPPPL) to extend a term loan of Rs 1,869.265 crore.

The CVPPPL is a 51:49 per cent Joint Venture of NHPC LTD and Jammu And Kashmir State Power Development Corporation Limited (JKSPDC), Power Finance Corporation (PFC) said in a statement.

Also Read | Stock Market Holiday on Bakrid 2024: BSE, NSE To Remain Closed on June 17 for Eid Ul Azha Festival; Know When Trading Will Resume.

PFC signed an agreement with CVPPPL for Rs 1,869.265 crore term loan, it added.

With this agreement, the financial closure for Kiru HEP (hydroelectric project) for Rs 3,738.53 crore has been achieved, PFC said.

Also Read | Bird Flu Virus: As WHO Confirms Second Case of Bird Flu Infection in India, Know Symptoms, Precautions and Other Details.

As per the agreement, the loan will be used to develop and construct the greenfield Kiru Hydro Electric Project (4x156 MW) on the river Chenab in the Kishtwar District of Jammu & Kashmir.

PFC, under the Ministry of Power, is the largest non-banking financial company (NBFC).

(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)