State-owned Rural Electrification Corp would raise Rs 21,000 crore from the market in 2010-11, as part of its resource mobilisation plans.
This fund raising would comprise $500 million of external commercial borrowings (ECBs).
"REC's borrowing (resource mobilisation) target for the current fiscal is Rs 21,000 crore of which external commercial borrowings (ECBs) would comprise $500 million," a company official said.
REC provides finances to power projects in the country and has set a loan disbursement target of Rs 19,000 crore for in the current fiscal.
The company borrowed Rs 24,000 crore in the previous financial year (2009-10), even as it disbursed loans of about Rs 18,500 crore during the same period.
Meanwhile, REC has evinced interest in picking up stake in power projects.
REC and another state-owned firm Power Finance Corp (PFC) would form a committee to evaluate the possibility of picking up stake in power projects.
"Picking up equity to the tune of five per cent would be feasible, because if it is 26 per cent then its a JV," the official said.
