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State-owned Power Finance Corporation (PFC) has sanctioned a term loan of ?3,517 crore to Chhattisgarh East Railway Limited (CERL) for the development of the East Rail Corridor Project in Chhattisgarh. According to a statement issued by PFC on Thursday, the loan agreement, valued at ?3,516.68 crore, was executed on March 28, 2025. The corridor is currently under construction and is primarily intended to facilitate coal transportation from nearby coal mines to various thermal power plants. CERL is a joint venture between South Eastern Coalfields Limited (SECL), IRCON International Ltd, and Chhattisgarh State Industrial Development Corporation Limited (CSIDCL). As a nodal agency under the Ministry of Power, PFC plays a key role in the development of major energy infrastructure initiatives, including the Integrated Power Development Scheme, Ultra Mega Power Projects, and serves as the Bid Process Coordinator for Independent Transmission Projects. |
