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Strategies & Market Trends : India Stocks

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From: LoneClone	8/4/2010 9:45:57 AM
	of 2517

India mulls multi-crore debt fund for power sector Published on: August 04, 2010 at 15:25 commodityonline.com NEW DELHI (Commodity Online): In order to meet the target of creating additional 100,000 MW power generation capacity, the union ministry of power is planning to set up a debt fund to meet the infrastructure funding requirements for the projects. Agency reports stated that the government will set up a debt fund having a corpus of Rs.50,000 crore to finance the infrastructure projects in the field of power and distribution. State-run power sector lenders Power Finance Corporation Ltd (BOM:532810) and Rural Electrification Corporation (BOM:RECLTD) are expected to be roped into the initiative. The fund is being conceptualized to provide financial assistance to the various power generation, transmission and distribution projects. However, the proposal is yet at an initial level and final modalities will be worked out soon after taking consultation from the Planning Commission to chalk out a road map for the proposed fund. The proposal of a debt fund is in sync with the India’s target to create additional 100,000 MW of power generation capacities in the XIIth five year plan (2012-17).

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