Govt to rope in foreign banks for power projects
Power Ministry plans to rope in foreign banks and export credit agencies for financing the 4,000 MW ultra mega projects that would require an investment of up to Rs 20,000 crore each.
By PTI |
NEW DELHI: Power Ministry plans to rope in foreign banks and export credit agencies for financing the 4,000 MW ultra mega projects that would require an investment of up to Rs 20,000 crore each.
"We have discussed these projects with foreign banks and Export Credit Agencies. There were some issues, which have been sorted out," Power Secretary R V Shahi said at an Assocham seminar here.
Power Ministry and Power Finance Corporation, the nodal agency for these projects, last week held a meeting with foreign banks including HSBC, Deutshe Bank, Japan Bank of International Cooperation, Bank of America and Bank of Tokyo among others.
Shahi said the government would award contracts for Sasan (Madhya Pradesh) and Mundra (Gujarat) projects by December 31 this year. The other projects would be awarded to the selected bidder next year. Leading domestic companies such as Tata Power, Reliance Energy and NTPC Ltd are among the bidders.
Besides Sasan and Mundra, the government has identified seven more projects in Maharashtra, Karnataka, Andhra Pradesh, Tamil Nadu, Orissa, Chhattisgarh and Jharkhand.
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