Reliance Power ties up Rs 14,500 cr for Sasam UMPP
Anil Ambani-led Reliance Power said that it has tied up Rs 14,500 crore funds for its 3,960 MW Sasan ultra mega power project in Madhya Pradesh.
By PTI |
NEW DELHI: Anil Ambani-led Reliance Power on Tuesday said that it has tied up Rs 14,500 crore funds for its 3,960 MW Sasan ultra mega power project in Madhya Pradesh.
The finances for the project, which entails an investment of Rs 19,400 crore, have been arranged from over a dozen domestic banks and financial institutions.
"State Bank of India is the lead domestic lender for the project. Several other large domestic banks and financial institutions like IIFCL (India & UK), Power Finance Corp, Rural Electrification Corp, Punjab National Bank, LIC, Axis Bank, IDBI Bank etc have provided debt facilities to the project," a company statement said.
Sasan will be the largest domestic coal-based power project in the country, supplying power to seven states - Madhya Pradesh, Punjab, Uttar Pradesh, Haryana, New Delhi, Rajasthan and Uttarakhand, it said.
The engineering, procurement and construction contract has been awarded to Reliance Infrastructure, the order for the main plant equipment (boilers, turbines, generators) has been placed with Shanghai Electric.
Reliance Power Limited won the 3,960-MW Sasan UMPP in July 2007, through a process of international competitive bidding, conducted by Power Finance Corp, the nodal agency for the UMPPs.
The finances for the project, which entails an investment of Rs 19,400 crore, have been arranged from over a dozen domestic banks and financial institutions.
"State Bank of India is the lead domestic lender for the project. Several other large domestic banks and financial institutions like IIFCL (India & UK), Power Finance Corp, Rural Electrification Corp, Punjab National Bank, LIC, Axis Bank, IDBI Bank etc have provided debt facilities to the project," a company statement said.
Sasan will be the largest domestic coal-based power project in the country, supplying power to seven states - Madhya Pradesh, Punjab, Uttar Pradesh, Haryana, New Delhi, Rajasthan and Uttarakhand, it said.
The engineering, procurement and construction contract has been awarded to Reliance Infrastructure, the order for the main plant equipment (boilers, turbines, generators) has been placed with Shanghai Electric.
Reliance Power Limited won the 3,960-MW Sasan UMPP in July 2007, through a process of international competitive bidding, conducted by Power Finance Corp, the nodal agency for the UMPPs.
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