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Nava Bharat Ventures’ step down subsidiary achieves financial closure for $828 million coal project

30 Jul 2015 Evaluate

Nava Bharat Ventures’ step-down subsidiary Maamba Collieries (MCL) has achieved financial closure for the upcoming integrated coal and power project in Zambia at an estimated cost of $828 million. The project has already achieved 80 per cent of progress in all facets of implementation and is scheduled for commissioning by mid-2016. The project is being funded on a debt-equity ratio of 70:30.

The 300-MW power plant is fully integrated with captive coal mining, dedicated water supply system and exclusive 330 KV power transmission system, all under the ambit of the project. Power plant operations and maintenance are to be driven by Nava Bharat which will leverage upon its rich Indian experience of successful operation of power plants, employing similar CFBC technology in boilers.

Nava Share Price

727.10 12.00 (1.68%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Indian Metal & Ferro 1546.10
Maithan Alloys 1022.70
Nava 727.10
Indsil Hydro Power 41.76
Shyam Century 5.82
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