Power Trading Company PTC India (PTC India) will soon be debt free. This O Nagasi (ONGC) to its unit PTC energy (PTC Energy) is selling for a loan of Rs 2021 crore. The top official of the company says that after this it will be debt free. PTC India had launched last month in October that O Nagasi had made the highest bid for PTC Energy’s 100% silicon. In an interview with news agency PTI, PTC India’s Superstars and MD Kaneb K Mishra had said that once the assets of PTC Energy are sold, the company will become debt free.
like this PTC India Debt burden is going to zero
According to the Managing Director of PTC India, PTC Energy will purchase international valuable worth Rs 2021 crore in O Nagpur. For this, O NGC had bid Rs 925 crore and apart from this, the loan of Rs 1100 crore was also sold to O NGC after completion. He said that due to Late Petrol Surcharge Scheme, the product of PTC India has reduced significantly and now it is emerging as a company which has not taken loan to meet its working capital prospects.
What is manufacturing strategy
Talking about the strategy of PTC India, now it is not taking loan for working capital. Apart from this, the CEO of the company says that it is exiting its non-core business and focusing on asset-light firms. PTC Energy is considered to be part of Agua’s strategy to exit its non-core business. Constable says that the company’s focus is on per unit reservation rather than increasing trade growth. PTC India is a government company and power trading plant.
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