FIs TO INVEST IN POWER PROJECTS NEARING FINANCIAL CLOSURE
Article Abstract:
Financial Institutions (FIs) have decide to restart dozens of power projects that have been languishing for years by jointly subscribing to the equity of those projects that are on the verge of achieving financial closure. This decision was taken at recent meeting attended by IDBI, ICICI, IFCI, SBI, BOI, LIC, GIC, UTI and other development finance institutions. The projects under consideration for FIs' participation are Chambal Power, Videocon Power, Jai Prakash Hydro Power, RPG Dholpur, Hinduja National Power, Dabhol Power Corporation and Ispat Energy. The FIs have decided to invest in the equity of the projects with any commitment towards financing cost overruns and other shortfalls. The FIs have decided to limit their participation to 20 percent of the equity component. (khr)
Comment:
India: Financial Institutions to restart power projects by jointly subscribing to equity of projects that are about to close
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RELIANCE GETS ICICI LOAN FOR RUBBER PROJECT
Article Abstract:
ICICI Ltd has sanctioned a loan amounting to Rs600 crore to a new Reliance group company called Reliance Rubber and Chemicals Ltd which has been set up to manufacture styrene butadiene rubber (SBR) and allied products. Sources say that the Reliance group may set up a project having a capacity of 1.25-1.50 lakh tonnes per annum at a cost of about Rs1200-1500 crore as it is the most viable size for the project. (khr)
Comment:
ICICI Ltd has sanctioned a loan amounting to Rs600 crore to a new Reliance group company called Reliance Rubber and Chemicals Ltd which has been set up to manufacture styrene butadiene rubber (SBR) and allied products.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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