The Indian Infrastructure Finance Company said that it will provide INR 6,000 crore for infrastructure projects during the current fiscal, which is nearly double the amount disbursed by it during 2008-09.

Mr S S Kohli chairman & MD of IIFCL said that “Till March 2009 the company has disbursed a total of INR 4,900 crore to various infrastructure projects. This year we aim to disburse around INR 6,000 crore.”

IIFCL, which was set up as an infrastructure sector finance company, disbursed INR 3,200 crore for various projects during 2008-09.

Answering questions on IIFCL's exposure in 3,900-MW ultra mega power project being developed by Anil Ambani led Reliance Power at Sasan in Madhya Pradesh, Mr Kohli said that the company has committed to provide a total of INR 2,400 crore. He added that out of the total sanctioned amount for the power project, about USD 446 million will be provided from IIFCL's UK subsidiary for purchase of equipment from overseas markets.

In addition INR 400 crore will be provided to the power project which yesterday tied up funds to the tune of INR 14,500 crore.

Among other entities which have agreed to fund the power project include, Power Finance Corporation, Rural Electrification Corporation, Punjab National Bank, Life Insurance Corporation, Axis Bank and IDBI Bank.

(Sourced from Business Line)