Sasan project to achieve financial closure in April
The Rs 19,400 crore Sasan Ultra Mega Power Project will finally achieve financial closure this month. While Reliance Power has already tied up over Rs 12,000 crore of debt for the project, the balance will be tied up soon. CNBC-TV18’s Anumeet Kaur Bisen reports.
The financial closure of Reliance Power’s much talked about and much delayed, Sasan Ultra Mega Power Project, will finally happen in April.
CNBC-TV18 learns that the process will be completed in the next two weeks. The project will have a debt to equity ratio of 3:1. Of the total required debt of Rs 14,550 crore, Sasan UMPP has received commitments from nearly a dozen banks and financial institution as for Rs 12,110 crore. It expects the remaining funds to be tied up soon.
Satnam Singh, CMD, Power Finance Corporation, said, “According to our information, the gap is very minimal and it is likely to take place in this month.”