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PFC signed an MoU with the Government of Gujarat on 3 January 2024, in Gandhinagar. The MoU aims to provide financial support for the state's generation, transmission, and distribution projects. The signing, attended by key officials, signifies a significant step toward bolstering projects undertaken by various power utilities in Gujarat.
Under the MoU, a substantial financial assistance of Rs 25,000 crore is dedicated to powering up diverse projects across the state, highlighting PFC's commitment to supporting and expanding the power infrastructure. The collaboration is expected to create 10,000 employment opportunities and promote energy sustainability and efficiency in Gujarat.
PFC is a leading power sector public financial institution and a non-banking financial company providing fund and non-fund-based support for the development of the Indian power sector.
The company's consolidated net profit jumped 22.8% to Rs 4,833.08 crore on 15.8% increase in total income to Rs 22,403.69 crore in Q2 FY24 over Q2 FY23.
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