GMR Energy is in the process to raise Rs 8,800 crore through debt which will
help the company achieve financial closure for its power project in
Rajahmundry (Andhra Pradesh) and
Chhattisgarh.
Both the power projects are likely to have a 70:30 debt equity ratio.
The company is planning to raise Rs 2,600 crore debt for the 786-MW gas based
power project in Rajahmundry. It is slated to be commissioned in 2012.
Further, it is likely to mop up Rs 6,000-crore of debt for its 1,200-MW, coal
based Chhattisgarh power project. The project is likely to achieve financial
closure by June 2010. Land acquisition is nearing completion and it already has
a coal linkage for this project, from the Chhattisgarh Government. The project
is to be commissioned in 2012.
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