Current Affairs PDF

PFC signs MoU with NBPCL to fund hydro electric projects and Multipurpose projects worth Rs 22,000 crore

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

PFC to fund projects worth Rs 22K crOn 26th May 2020, The Power Finance Corporation(PFC), under the Ministry of Power signed an agreement to fund Rs. 22,000 crore with Narmada Basin Projects Company limited(NBPCL) of Government of Madhya Pradesh for the 225 MW hydro-electric projects and multipurpose projects in the state. The MoU was signed by Rajeev Sharma, CMD, PFC and I.C.P Keshari, MD NBPCL on a virtual platform.

Features of MoU:

i.The 22,000 crore fund will be utilised by NBPCL for setting up the hydro-electric project of 225MW and power components of 12 major multipurpose projects in Madhyapradesh and the spending of the fund amount will be associated with the execution of the projects.

ii.The 12 major multipurpose projects includes, Basaniya Multipurpose project Dindori, Chinki Boras Multipurpose project Narsinghpur Raisen Hoshangabad, Sakkar Pench Link Narsinghpur Chhindwara, Dudhi Project Chhindwara hoshangabad

iii.The financial assistance to the NBPCL will be considered by the PFC on the accepted terms of the MoU

Key Points:

The government of Madhya Pradesh approved the execution of these projects based on the study on pre-feasibility by the state of Madhya Pradesh

About PFC:
Chairman and M.D- Rajeev Sharma
Established- 16th July, 1986 

About NBPCL:
Managing Director- I.C.P Keshari,IAS.,(1988 batch)