PFC Boosts India’s Coal Rail Network with ₹6,680 Crore Loan for Chhattisgarh Corridor
Power Finance Corporation approves ₹6,680 crore loan for Chhattisgarh East-West Rail Corridor. The project enhances coal evacuation and strengthens India’s energy security.
NEW DELHI/RAIPUR: Power Finance Corporation (PFC), a Maharatna Public Sector Undertaking and India’s largest Non-Banking Financial Company (NBFC), has reached a significant milestone by approving a term loan of ₹6,680.70 crore to Chhattisgarh East West Railway Limited (CEWRL).
This financial support is intended for the important East-West Rail Corridor Project in Chhattisgarh. This infrastructure initiative aims to improve the transportation of coal across the country.
The loan agreement was officially signed on September 26, 2025, at the PFC office. This secured the funding for the rail project.
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The East-West Rail Corridor, formally known as Corridor-III, is a 122-km passenger-and-freight line that runs from Gevra Road to Pendra Road, passing through key areas like Dipka, Katghora, Sindurgarh, and Pasan.
The corridor, currently under construction, is set to transform the power sector. It aims to reduce congestion in the current rail network by providing an alternative route for moving coal from high-production mines in the Korba region. This will enable a smoother and quicker supply of coal to thermal power plants in central and northwestern states, enhancing the nation’s energy security.
CEWRL, the project’s implementing agency, is a Joint Venture involving major government entities: South Eastern Coalfields Limited (SECL), IRCON International Ltd, and the Chhattisgarh State Industrial Development Corporation Limited (CSIDCL).
Dignitaries Present at the Signing
The loan documents were signed in the presence of senior leaders from both organizations:
From Power Finance Corporation (PFC):
Shri R. R. Jha, Director (Projects)
Shri H. K. Das, ED (Projects-CSP)
Shri V. Packirisamy, ED (EA-I)
Shri Praveen Verma, ED (L&D)
Shri Nitin Kumar, CGM (Projects-CSP)
Shri Ranjay Choudhary, CGM (EA-I)
From Chhattisgarh East West Railway Limited (CEWRL):
Smt. Priyanka Tanna, Chief Financial Officer (CFO)
This successful financial closure highlights the national emphasis on building strong infrastructure that supports India’s key industries, promoting economic growth and development in the mineral-rich state of Chhattisgarh.
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