TS Govt gives nod for Rs. 7400 Cr loan for Kaleshwaram project

Hyderabad, February 10: The Telangana Government has accorded permission to the Kaleshwaram Irrigation Project Corporation Limited to borrow Rs. 7,400/- as term loan from the  consortium  of  10 nationalized  commercial  banks for implementation of part of Link-I of Kaleshwaram Project (Medigadda barrage on Godavari river to Sripada Yellampally Project).

A joint meeting of officials of State Government of Telangana and Bankers was held on February 7 to discuss about the sanctions made by banks for M/s Kaleshwaram Irrigation Project Corporation Limited to finance part of Link-1 of the Kaleshwaram Project and for Financial Closure, documentation and disbursement. All the member banks agreed that Andhra Bank would be lead bank of the consortium.

 

Loans for Kaleshwaram Project (In Crores)

Andhra Bank

1300

Canara Bank

1000

Corporation Bank

1000

Oriental Bank of Commerce

1000

Indian Bank

750

Vijaya Bank

600

Punjab & Sind Bank

500

Dena Bank

660

Union Bank of India

350

United Bank of India

240

Total

7400

 

The State Government gave unconditional and irrevocable guarantee for the repayment of principal and interest for loan.