East Rail Corridor Project in Chhattisgarh gets Rs. 3,517 Cr. PFC loan

New Delhi: Power Finance Corporation Limited (PFC), a Maharatna company and the largest NBFC in India has sanctioned a term loan to Chhattisgarh East Railway Limited (CERL) recently,  for implementing the East Rail Corridor Project in Chhattisgarh, according to a company press note.

CERL is a joint venture company of South Eastern Coalfields Limited (SECL), IRCON, and Chhattisgarh State Industrial Development Corporation Limited (CSIDCL). The under-construction railway project is being developed primarily for the purpose of transporting coal from multiple coal mines in the vicinity and connecting them to thermal power plants. The loan documents for a term loan amounting to Rs. 3,516.68 crore were executed on March 28, at PFC’s corporate office in the presence of  H K Das, ED (Projects),  V. Packirisamy, ED (EA),  Praveen Verma, CGM (L&D),  Nitin Kumar, GM & HOU (Projects), and  Ranjay Choudhary, GM & HOU (EA) from PFC and  Ravi Valluri, CEO and Smt. Priyanka Tanna, CFO from CERL.