Financial Daily from THE HINDU group of publications
Tuesday, Jun 14, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jun 14, 2005 |
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Corporate
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New Projects Money & Banking - Financial Institutions Industry & Economy - Power PFC okays Rs 750-cr loan for Nagarjuna thermal project Our Bureau
Mangalore , June 13 POWER Finance Corporation, the lead banker for the thermal power project of Nagarjuna Power Corporation Ltd at Padubidri in Udupi district, has sanctioned a loan of Rs 750 crore to the project, according to a Nagarjuna Power release here on Monday. Giving details of the project status, the release said the company expects to achieve financial closure by July-August. The project is making steady progress, the release added. It said Rural Electrification Corporation Ltd and Housing and Urban Development Corporation (HUDCO) Ltd are processing applications for similar loan components. Other banks such as Canara Bank, Oriental Bank of Commerce, State Bank of India, Union Bank of India, State Bank of Mysore and State Bank of Travancore are also processing the loan application.
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