Power Finance Corporation (PFC) has entered into an agreement with Narmada Basin Projects Company Limited (NBPCL) on Monday to finance 22,000 crore hydroelectric and multipurpose projects in Madhya Pradesh.
The funds will be used by NBPCL to set up 225 MW hydroelectric projects and the power components of 12 major multipurpose projects in the State.
The State Government has conducted a pre-feasibility study of these projects and has granted approval for their implementation. The disbursement of the sum will be related to the execution of the projects.
Among the major multipurpose projects to be funded under the agreement are Basaniya Multipurpose Project Dindori, Chinki Boras Multipurpose Project Narsinghpur Raisen Hoshangabad, Sakkar Pench Connect Narsinghpur Chhindwara, Dudhi Project Chhindwara Hoshangabad, among others.
PFC will provide financial assistance to NBPCL on the basis of due diligence and on mutually satisfactory terms, according to the company statement.
