Power Trading Corp to raise $500 mn

May 29th, 2008 - 6:00 pm ICT by admin  

New Delhi, May 29 (IANS) Power Trading Corp of India (PTC) would raise $500 million for its energy fund, said a top official here Thursday. “In our country, the power requirements are huge. But we also have to look at market condition. Any fund worthwhile should not be less than $300 million. But as a beginning, we will go for $500 million and then raise further,” said PTC chairman and managing director T.N. Thakur.

Thakur was talking to reporters on the sidelines of a power conference organised by the Associated Chambers of Commerce and Industry of India (Assocham).

“The fund raising started long time back but it had been delayed due to the ongoing market conditions. Now, the company was in talks with investors to understand market requirements and expects more funds coming in the future,” he said.

However, he did not comment on the time frame and refused to divulge any further details on the fund raising programme.

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