The financing, under JBIC’s Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) initiative, is supported through co-financing from Sumitomo Mitsui Banking Corporation and other Japanese banks.
The loan agreement was signed in Tokyo on Friday by PFC CMD Parminder Chopra and JBIC Governor Nobumitsu Hayashi.
In addition, a side agreement was executed with Sumitomo Mitsui Banking Corporation in the presence of Rajiv Kannan, Managing Executive Director, Head of India Division, SMBC.The company said a part of the loan will primarily support the establishment of Assam Bio Ethanol Pvt Ltd’s pioneering second-generation bio-ethanol and chemicals plant in Assam.
The project, which utilises bamboo as feedstock, is a significant stride toward cleaner energy and self-reliance.
Power Finance Corporation Ltd (PFC) is India’s largest government-owned non-banking financial company (NBFC) based on asset size (consolidated).
It operates under the administrative control of the Ministry of Power and serves as the principal financial institution for India’s power sector.
Also Read: CM Fadnavis on Maratha quota: Cabinet panel examining demands, promises constitutionally valid solution
