+
PFC partners with SACE to boost India-Italy ties
POWER & RENEWABLE ENERGY

PFC partners with SACE to boost India-Italy ties

The Power Finance Corporation (PFC), a state-owned entity, announced that it had become the initial government firm to engage in a collaboration with SACE, an Italian export credit agency, with the aim of enhancing cooperation between the two nations. As per a statement, PFC is entering into a partnership with SACE, the export credit agency of Italy, for an innovative ECA-backed financing facility under its 'Push Strategy' initiative.

It was stated that this proposed collaboration would establish PFC as the first government-owned entity in India to join forces with SACE under this initiative. Under this arrangement, PFC is set to receive an 80 percent guarantee from SACE, with HSBC serving as a coordinating bank, lead arranger, and facility agent for the financing of up to 200 million euros.

Moreover, the anticipated financing under the 'Push Strategy' is anticipated to present project owners throughout India with an opportunity to gain access to Italian technology and engage in business-matching activities with Italian companies.

Parminder Chopra, Chairman and Managing Director of PFC, mentioned in the statement, "PFC has always been at the forefront of exploring innovative foreign currency borrowing avenues." She expressed that this unique deal involving PFC, SACE, and HSBC is the first of its kind.

She added that this strategic alliance under SACE's 'Push Strategy' would contribute to fortifying business relationships between India and Italy and facilitate access to Italian technologies for the power and infrastructure sectors.

The Power Finance Corporation (PFC), a state-owned entity, announced that it had become the initial government firm to engage in a collaboration with SACE, an Italian export credit agency, with the aim of enhancing cooperation between the two nations. As per a statement, PFC is entering into a partnership with SACE, the export credit agency of Italy, for an innovative ECA-backed financing facility under its 'Push Strategy' initiative. It was stated that this proposed collaboration would establish PFC as the first government-owned entity in India to join forces with SACE under this initiative. Under this arrangement, PFC is set to receive an 80 percent guarantee from SACE, with HSBC serving as a coordinating bank, lead arranger, and facility agent for the financing of up to 200 million euros. Moreover, the anticipated financing under the 'Push Strategy' is anticipated to present project owners throughout India with an opportunity to gain access to Italian technology and engage in business-matching activities with Italian companies. Parminder Chopra, Chairman and Managing Director of PFC, mentioned in the statement, PFC has always been at the forefront of exploring innovative foreign currency borrowing avenues. She expressed that this unique deal involving PFC, SACE, and HSBC is the first of its kind. She added that this strategic alliance under SACE's 'Push Strategy' would contribute to fortifying business relationships between India and Italy and facilitate access to Italian technologies for the power and infrastructure sectors.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?