New Delhi: Power Finance Corporation (PFC), a Maharatna PSU under the Ministry of Power, has signed a memorandum of agreement (MoA) with the Municipal Corporation of Faridabad (MCF), Haryana for supply, installation and commissioning of LED street lighting systems as part of its corporate social responsibility (CSR) initiative. As per the MoA, PFC will provide financial assistance of Rs 3.56 crore to the Municipal Corporation of Faridabad (MCF) for supply, installation and commissioning of 4,324 LED street lighting systems in 21 villages of Faridabad, Haryana.
The MoA has been signed in the presence of Minister of State (Power) & Minister of State (Heavy Industries Krishan Pal, PFC Limited's CMD RS Dhillon, Municipal Corporation of Faridabad's (MCF) ACMC Abhishek Meena, Senior Advisor & former Director of PFC PK Singh, PFC's Executive Director Rizwanur Rahman and other senior officials of Ministry of Power, PFC and MCF.
The project will help in the illumination of the streets located in far-flung areas, thus ensuring the safety and security of commuters and residents. This initiative will immensely help in bringing about substantial changes in the day-to-day life of the people residing in the vicinity making the living environment a safer place, thereby giving them the opportunity to continue economic activity after dusk and engage more in (outdoor) social activities. LED lights will also help in reducing carbon emissions as compared to traditional lights, which will further help in reducing pollution. The project is going to be implemented within nine months from the date of the signing of MoA with MCF. MCF has already carried out the village level need assessment survey and has identified the spots and locations.
The major objective of considering this initiative is to enhance the quality of life of people in the rural areas and hamlets as rural development is a key initiative for socio-economic development and the overall progress of the nation.
As India's leading public sector enterprise and a responsible corporate, PFC is committed to ensuring the overall development of society by extending financial support to various sustainable & developmental initiatives in the areas of Health, Education and Skill Development.
Disclaimer: This story is a press release and is being published without any editing by PSU Watch desk. Our editorial team has only changed the headline.
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