New Delhi: Power Finance Corporation Limited (PFC) has signed a memorandum of understanding (MoU) in Vishakhapatnam during the first day of Global Investors Summit 2023 hosted by the Government of Andhra Pradesh. The MoU envisages providing financial assistance for projects in power & allied sectors and infrastructure projects in the state of Andhra Pradesh which will facilitate development and economic growth in the state. Presently the envisaged funding for generation, transmission, distribution and infrastructure projects is approx. Rs 36,000 crore.

The MoU was signed by PFC’s Chairman & Managing Director (CMD) Ravinder Singh Dhillon and APMIDCL’s Managing Director Sagili Shan Mohan (IAS) behalf of Government of Andhra Pradesh, in the presence of State (Andhra Pradesh) Energy Minister Peddireddy Ramachandra Reddy, Special Chief Secretary (Energy), Govt of AP K Vijayanand (IAS), PFC’s Director (Projects) Rajiv Ranjan Jha, PFC’s General Manager (Projects) Shehla Sadaf along with other senior officials of Govt of AP and PFC.

The MoU underlines the PFC’s commitment towards playing a pivotal role in powering the nation's aspirational journey towards a sustainable future.

PFC has been a partner in the continuous growth and development in the State with a cumulative sanction of about Rs 86,000 crore and cumulative disbursement of about Rs 66,000 crore to the state utilities of Andhra Pradesh.

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