IDBI Bank Forms Consortium for India Infrastructure Financing

June 25, 2012 by · Leave a Comment
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https://encrypted-tbn0.google.com/images?q=tbn:ANd9GcRMNDP3mVfh9aCw9KCMEVSwkdCGxxggjKtkXqn1euTwyrwU88Q3Mumbai, June 25, 2012: India’s 9 largest PSU (public sector undertaking) lenders have formed a consortium for jointly financing infrastructure projects with project cost of Rs.1000 crore and above.

The public sector lenders viz., IDBI Bank, SBI, PNB, Bank of India, Bank of Baroda, Canara Bank, Union Bank, IIFCL and LIC met on June 19, 2012 to discuss the detailed framework and the modalities for joint financing of viable infrastructure projects. The consortium aims to speed up the sanction process, bring uniformity in the approach and terms of lending; thereby facilitate early financial closure of the infrastructure project. The infrastructure project developer can approach the consortium secretariat for further details at infraconsortium[@]idbi.co.in Read more

Reliance Power Announces FY12 Results

May 24, 2012 by · Leave a Comment
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Mumbai, 24 May 2012 — Reliance Power Limited, a Reliance Group company, today announced its financial results for the quarter and year ended March 31, 2012. The company’s Board of Directors approved the financial results at its meeting here today. Announcing the results, JP Chalasani, CEO Reliance Power, said; “We have successfully completed commissioning of the 1,200 MW Rosa plant in Uttar Pradesh four months ahead of PPA schedule again showcasing our strong project execution abilities. The 600 MW Rosa Phase I plant operated at an availability of over 86% for the year and generated net profit of Rs 335 crore. We have successfully commissioned India’s largest Solar photovoltaic project, a 40 MW project in Rajasthan in just 129 days and are well on track to become a 5000 MW operating company by end of 2012.” Read more

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