PFC sanctions loan for implementing the East Rail Corridor Project in Chhattisgarh
Power Finance Corporation Limited (PFC) has sanctioned a term loan amounting to Rs. 3,516.68 crore, executed on March 28, 2025, to Chhattisgarh East Railway Limited (CERL) for implementing the East Rail Corridor Project in Chhattisgarh.
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) for implementing the East Rail Corridor Project in Chhattisgarh. 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.
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The loan documents for a term loan amounting to Rs. 3,516.68 crore were executed on March 28, 2025, at PFC’s corporate office in the presence of Shri. H K Das, ED (Projects), Shri. V. Packirisamy, ED (EA), Shri. Praveen Verma, CGM (L&D), Shri Nitin Kumar, GM & HOU (Projects), and Shri Ranjay Choudhary, GM & HOU (EA) from PFC and Shri Ravi Valluri, CEO and Smt. Priyanka Tanna, CFO from CERL.
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