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IIFCL to provide Rs6,000 cr for infra projects during 2009-10

IIFCL to provide Rs6,000 cr for infra projects during 2009-10
PTI
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First Published: Wed, Apr 22 2009. 02 30 PM IST
Updated: Wed, Apr 22 2009. 02 30 PM IST
New Delhi: Indian Infrastructure Finance Company (IIFCL) today said it will provide Rs 6,000 crore for infrastructure projects during the current fiscal, which is nearly double the amount disbursed by it during 2008-09.
“Till March 2009 (since its inception), the company has disbursed a total of Rs4,900 crore to various infrastructure projects. This year, we aim to disburse around Rs 6,000 crore,” IIFCL chairman and managing director S S Kohli told reporters here.
IIFCL, which was set up as an infrastructure sector finance company, disbursed Rs3,200 crore for various projects during 2008-09.
Answering questions on IIFCL’s exposure in 3,900-MW ultra mega power project being developed by Anil Ambani-led Reliance Power at Sasan in Madhya Pradesh, Kohli said, the company has committed to provide a total of Rs2,400 crore.
Out of the total sanctioned amount for the power project, about $446 million will be provided from IIFCL’s UK subsidiary for purchase of equipment from overseas markets.
In addition, Rs400 crore will be provided to the power project, which yesterday tied up funds to the tune of Rs14,500 crore.
Among other entities which have agreed to fund the power project include, Power Finance Corporation, Rural Electrification Corporation, Punjab National Bank, Life Insurance Corporation, Axis Bank and IDBI Bank.
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First Published: Wed, Apr 22 2009. 02 30 PM IST