PFC fires ₹28,500-cr in water infra projects in Telangana

In an encouraging development, Power Finance Corporation (PFC) has recently agreed to extend funds worth ₹28,500 crore for twin water infra projects in Telangana, PFC Chairman Rajeev Sharma said adding that in the first case the PFC agreed in principle to extend ₹18,000 crore loans for the Palamuru-Ranga Reddy Lift Irrigation Scheme (PRRLIS) and also came forward to extend a loan assistance of ₹12,500 crore for the completion of works on the power component of the Kaleshwaram Lift Irrigation Scheme (KLIS). In this connection the chairman gave his consent for funding the two irrigation projects that are high on the agenda of Telangana following talks with a team of State officials led by Chief Secretary SK Joshi in New Delhi recently. PFC assured the team that loan assistance assured for the Kaleshwaram project, which is nearing completion, would be released soon and that it sanctioned ₹7,785-crore term loan for the pump houses and generators being installed as part of package 1 and 2 of the Kaleshwaram irrigation project.