The Hindu Business Line : United Bank-led team commits Rs 70-cr loan to Sikkim power co

A CONSORTIUM of three banks led by United Bank of India has committed long-term loan aggregating Rs 70 crore to Sikkim Power Development Corporation Ltd (SPDCL).

The deal, structured by SBI Capital Markets, is said to be the first of its kind for the State. It is the largest single borrowing by a Sikkim Government enterprise and is expected to bolster the company's plan to develop the State's power sector.

SPDCL is setting up 11 small hydro projects with an aggregate capacity of 25 MW.

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