SBI-led consortium seek investor for 600 MW power project

-

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us athttp://ripplesadvisory.com/free-trial.php or call at 9303093093.

A lenders' consortium led by SBI is looking for a strategic investor for an under-construction 600 MW power plant at Raigarh in Chattisgarh, reported PTI. The consortium comprising SBI, State bank of Bikaner & Jaipur, L&T Infrastructure Finance and PTC Financial Services has proposed to conduct a Swiss Challenge auction for the under construction 600 MW (2x300 MW) thermal power project located in Raigarh, Chattisgarh, according to the bid document.

IDBI Capital has been appointed as advisor for the transaction, reported PTI. The consortium has already received an offer from an interested party. As per the bid document, a company is in the process of constructing a coal-fired thermal power plant of 1200 MW capacity Independent Power Plant in Raigarh District of Chhattisgarh in two phases of 600 MW each; of which Phase-I 600 MW is currently under implementation along with entire required infrastructure for 1200 MW project. The original cost of the project was appraised at Rs 3,787.20 crore by the lenders in the debt-equity ratio of 75:25. But due to delay it has over-run to Rs 5,673.2 crore.

The company has sought further revision in project capital cost to Rs 5673 which is still to be approved by the lending group. The company had received the consent to establish the project in January 2011. The original scheduled commissioning date of the project was April 1, 2014 and July 1, 2014 for Unit 1 and 2 respectively. "However, the project suffered a delay due to various factors including non-performance by the selected EPC contractor," as per the document.

Comments

Post a Comment

Popular posts from this blog

Daily equity Market By Ripplesadvisory Report 16-Aug-2016

-
MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
Read more

Axis Bank agrees to buy to payments wallet provider FreeCharge for $60 million

-
Image
Axis Bank Ltd, India's seventh-biggest lender by assets, said on Thursday it had agreed to buy mobile payments wallet provider FreeCharge from e-commerce company Snapdeal for 3.85 billion rupees ($60.04 million). Most valuable Financial Advisory with the name of accurate tips provider here invites you to trade in a financial market with risk-free work click here for more >>  http://www.ripplesadvisory.com/free-trial.php "Digital payments in India are surging. Government policies are driving a less-cash economy," Axis Bank finance chief Jairam Sridharan told a news conference after announcing the deal.
Read more

Axis Bank Declines after Reporting Tepid Q4 Results

-
Image
For more Live premium stock future Visit Us:- http://ripplesadvisory.com/premium-stock-future-.php or Get Free Trials Just Call @96-44-40-50-56. Axis Bank declined 1.72% to Rs 508.40 at 9:40 IST on BSE after net profit dropped 43.13% to Rs 1225.10 crore on 4.33% rise in total income to Rs 14181.31 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 26 April 2017. Meanwhile, the S&P BSE Sensex was down 29.63 points or 0.1% at 30,103.72. On the BSE, 5.08 lakh shares were traded on the counter so far as against the average daily volumes of 9.17 lakh shares in the past one quarter. The stock had hit a high of Rs 525 and a low of Rs 503.60 so far during the day. The stock had hit a 52-week high of Rs 638 on 7 September 2016 and a 52-week low of Rs 424.60 on 10 January 2017. The stock had outperformed the market over the past one month till 26 April 2017, rising 5.74% compared with the Sensex's 2.42% rise. The sc...
Read more