Kalpataru Power Transmission formed a joint venture with Techno Electric and Engineering, has achieved financial closure for its Jharli-Bawana transmission line project by tying up debt of Rs 276 crore with a consortium of four banks. IDFC is the lead banker and the loans have tenor of five to 15 years. Kalpataru Power Transmission is operating in the power transmission and distribution space and holds 51% in the joint venture. The balance is held by Kolkata-based engineering company Techno.
The special purpose vehicle, Jhajjar KT Transco, is setting up the 400-KV transmission line of 100 km through the public-private partnership route for Haryana Vidyut Prasaran Nigam at a total cost of Rs 444 crore. The project financing includes Rs 78 crore of capital grant from the government and Rs 90 crore of equity contribution from the two joint venture partners. The project also has an additional grant of Rs 18 crore for operation and maintenance.
The project is scheduled to be completed in 14 months from the date of financial closure. The SPV will construct and operate the line for the initial concession period of 25 years with options of extension for another 10 years.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4099.05 |
| Rail Vikas Nigam | 298.20 |
| NCC | 166.50 |
| KEC International | 580.70 |
| Kalpataru Projects | 1291.00 |
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