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.
