+
PFC Sanctions Rs 35 Bn Loan for Chhattisgarh Rail Project
RAILWAYS & METRO RAIL

PFC Sanctions Rs 35 Bn Loan for Chhattisgarh Rail Project

Power Finance Corporation (PFC), a state-owned financial institution under the Ministry of Power, has sanctioned a loan of Rs 35.17 billion to Chhattisgarh East Railway (CERL) for the development of the East Rail Corridor Project in Chhattisgarh. The loan agreement, amounting to Rs 35.16 billion, was formally executed on March 28, 2025.

The East Rail Corridor Project is currently under construction and is designed primarily to facilitate the efficient transportation of coal from various coal mines located in the region. The corridor will play a crucial role in connecting these coal sources to thermal power plants, thereby strengthening the supply chain for power generation and supporting the energy infrastructure of the country.

Chhattisgarh East Railway (CERL), the entity responsible for implementing the project, is a joint venture between South Eastern Coalfields (SECL), IRCON International, and the Chhattisgarh State Industrial Development Corporation (CSIDCL). The collaboration brings together key stakeholders from the mining, infrastructure, and industrial sectors to streamline project execution and ensure timely delivery.

As a key institution under the Ministry of Power, PFC functions as a nodal agency for several critical initiatives, including the Integrated Power Development Scheme (IPDS), Ultra Mega Power Projects (UMPPs), and serves as the Bid Process Coordinator for Independent Transmission Projects (ITPs). Its involvement in the East Rail Corridor Project is aligned with its mandate to finance and facilitate the development of power-related infrastructure across India.

News source: Business Standard

Power Finance Corporation (PFC), a state-owned financial institution under the Ministry of Power, has sanctioned a loan of Rs 35.17 billion to Chhattisgarh East Railway (CERL) for the development of the East Rail Corridor Project in Chhattisgarh. The loan agreement, amounting to Rs 35.16 billion, was formally executed on March 28, 2025. The East Rail Corridor Project is currently under construction and is designed primarily to facilitate the efficient transportation of coal from various coal mines located in the region. The corridor will play a crucial role in connecting these coal sources to thermal power plants, thereby strengthening the supply chain for power generation and supporting the energy infrastructure of the country. Chhattisgarh East Railway (CERL), the entity responsible for implementing the project, is a joint venture between South Eastern Coalfields (SECL), IRCON International, and the Chhattisgarh State Industrial Development Corporation (CSIDCL). The collaboration brings together key stakeholders from the mining, infrastructure, and industrial sectors to streamline project execution and ensure timely delivery. As a key institution under the Ministry of Power, PFC functions as a nodal agency for several critical initiatives, including the Integrated Power Development Scheme (IPDS), Ultra Mega Power Projects (UMPPs), and serves as the Bid Process Coordinator for Independent Transmission Projects (ITPs). Its involvement in the East Rail Corridor Project is aligned with its mandate to finance and facilitate the development of power-related infrastructure across India. News source: Business Standard

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?