New Delhi: In a significant boost to India’s energy security, Damodar Valley Corporation (DVC) has secured a ₹1,014.585 crore term loan from Power Finance Corporation Ltd (PFC) to develop four key coal mines. This strategic move strengthens DVC’s mining portfolio and ensures a stable supply of coal for its power generation units, supporting India’s growing energy demands.
Financial Closure Marks Milestone in Mining Expansion
The loan agreement was formally executed by Durgesh Maiti, CGM (Finance), DVC, and Ms. Shelly Gupta, GM & HOU (L&D), PFC Ltd, in the presence of senior officials including S. Suresh Kumar, IAS, Chairman, DVC, and executives Arup Sarkar, A. Nandi, ED (Mining), and S. Mukherjee, ED (Finance). Representatives from PFC Ltd also attended the signing ceremony.
This financial closure is a landmark achievement in DVC’s strategic plan to expand its coal mining operations, secure raw materials for power generation, and strengthen the nation’s energy infrastructure.
Read also: DVC Receives Rs 40 Crore Interim Dividend from BPSCL, Strengthening Financial Outlook for 2025-26
Strengthening Resource Security and Energy Infrastructure
The partnership between DVC and PFC reflects shared objectives for sustainable growth:
- Enhanced Resource Security: The development of four coal mines will ensure a reliable supply of coal for DVC’s power generation units.
- Financial Strength: The ₹1,014.585 crore term loan provides capital for mining expansion and operational efficiency.
- Sustainable Growth: Investment in coal mines supports long-term energy planning and infrastructure development, contributing to India’s energy security.
Speaking at the event, S. Suresh Kumar, IAS, Chairman, DVC, said, “This collaboration marks a significant step toward strengthening our coal mining portfolio and securing the energy resources essential for India’s growth.”
About DVC and PFC
Damodar Valley Corporation (DVC) is a leading power and coal utility in India, managing hydroelectric, thermal, and renewable energy projects across Eastern India. DVC plays a crucial role in regional energy security and economic development.
Power Finance Corporation Ltd (PFC) is India’s premier financial institution for the power sector, providing loans, financial advisory, and investment solutions to utilities, state electricity boards, and power developers across the country.
