FIs seek equity in Power Trading Co

PRESS TRUST OF INDIA

NEW DELHI, Nov 9: Leading financial institutions including Unit Trust of India (UTI) and Industrial Development Bank of India (IDBI) have sought equity in the proposed Power Trading Company (PTC) for buying power from private producers. Power Minister P R Kumaramangalam said in an interview that Industrial Finance Corporation of India (IFCI), Industrial Development Finance Corporation (IDFC) and Industrial Credit and Investment Corporation of India (ICICI) were the other institutions which have evinced interest in picking up stake in the proposed company.

Central power utilities National Thermal Power Corporation (NTPC), Power Grid Corporation (PGCIL) and Power Finance Corporation (PFC) would have controlling stakes in the PTC, he said.

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