MUMBAI, June 30 (Reuters) - A unit of Sterlite Industries (India) Ltd said late on Monday a 2,400 megawatt power project has tied up funds worth 61.5 billion rupees ($1.28 billion), with 19 lenders committing a term loan for that amount.
The 82 billion-rupee project of Sterlite Energy got loans from lenders led by top bank State Bank of India, the firm said in a statement.
Sterlite Industries, a part of India-focused metals group Vedanta, has already invested 20.5 billion rupees in equity in the project, it said.
The power project in east India would be fully commissioned by mid-2010, it said.
SBI Capital Markets, a unit of State Bank of India, IDBI Bank and Deutsche Bank were the arrangers for the deal, it said.
($1=48.1 rupees)
(Reporting by Narayanan Somasundaram; Editing by Muralikumar Anantharaman)
((narayanan.somasundaram@thomsonreuters.com; 91 22 6636 9068; Reuters Messaging narayanan.somasundaram.reuters.com@reuters.net)) Keywords: STERLITE POWER/FUNDS (If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The 82 billion-rupee project of Sterlite Energy got loans from lenders led by top bank State Bank of India, the firm said in a statement.
Sterlite Industries, a part of India-focused metals group Vedanta, has already invested 20.5 billion rupees in equity in the project, it said.
The power project in east India would be fully commissioned by mid-2010, it said.
SBI Capital Markets, a unit of State Bank of India, IDBI Bank and Deutsche Bank were the arrangers for the deal, it said.
($1=48.1 rupees)
(Reporting by Narayanan Somasundaram; Editing by Muralikumar Anantharaman)
((narayanan.somasundaram@thomsonreuters.com; 91 22 6636 9068; Reuters Messaging narayanan.somasundaram.reuters.com@reuters.net)) Keywords: STERLITE POWER/FUNDS (If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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