Summary:
PFC has so far sanctioned Rs 48,500 crore and disbursed Rs 29,500 crore towards various projects in generation, transmission and distribution sector in Tamil Nadu.The state is PFC's second largest client in terms of loan assets as on December last year. CHENNAI: Power Finance Corporation (PFC) has sanctioned Rs 5,474 crore as term loan to Tamil Nadu Generation and Distribution Company (Tangedco) for setting up two thermal power units of 800MW each at Uppur in Ramanathapuram district.A formal agreement between Tangedco and PFC was signed in New Delhi a few days ago. They are expected to be commissioned in 2021and coal for the units will be sourced from Tuticorin port through trains to Manamadurai and Tirumayam stations in Ramanathapuram district.This is the second time Tangedco has received sanction for setting up 800MW thermal power units. In addition, a cheque of `500 crore was handed over to Tangedco as short term support. Tangedco chairman M Saikumar and PFC chairman Rajeev Sharma signed the agreement..