Power Finance Corporation Q2 profit zooms 33%, to set up $1 bn fund with Tata Capital

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SummaryPower Finance Corporation today reported 33 per cent jump in net profit to Rs 1,084 crore for the July-September quarter

about 3-6 months. However, the company is awaiting the finalisation of revised bidding norms to go ahead with the procedure.

"To bring out the RFQ or the Request For Qualification for this (Husainabad) UMPP it will take about 3-6 months but we are waiting for the new SBDs or the standard bidding documents," Singh added.

PFC has set up a wholly owned subsidiary Deoghar Mega Power Limited.

CEA has already requested Central Mine Planning & Design Institute Limited (CMPDIL) to suggest captive coal blocks in Rajmahal or nearby coalfield for the proposed UMPP.

Based upon the recommendation of CMPDIL, Ministry of Coal will be approached for allocation of coal block.

The first such project in the state is coming up near Tilaiya village in Hazaribagh and Koderma Districts. The project was awarded to Reliance Power in 2009.

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