Reliance Power will finalize loans of 5,000 crore ($1.1 billion) with Chinese banks for its 4,000 mw Sasan power project during the visit of the country’s Premier Wen Jiabao .Bank of China, China Development Bank and the Export Import Bank of China along with Standard Chartered Bank, which arranged the loans, have finalised the term loans after Reliance Power signed a memorandum of understanding in Shanghai last October, for loans amounting to 56,000 crore for various projects it is executing.
With the finalisation of a 13-year debt, Reliance Power has secured Chinese commitment for the Sasan Project on a long-term basis, ensuring support from Chinese equipment suppliers during operations and maintenance of the project.
The loans will support import of power equipment from the Shanghai Electric Group Company. In October this year, Reliance Power and Shanghai Electric Group Company (SEC) had signed agreements for supply of 660 mw boiler-turbine-generators (BTG), the main power equipment, for their ultra-mega projects. The order was world’s largest BTG contract. crackcrack
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NTPC | 391.95 |
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