Saarc Net to set Rs 48.60 crore Wind Power project in TN

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New Delhi, Jan 7 (UNI) Saarc Net Ltd today said the company is setting up its 9 MW Wind Power Project in Tamil Nadu at an estimated cost of Rs 48.60 crores.

The Company Law Board, Chennai Bench has approved the shifting of Registered office of the company from Andhra Pradesh to Delhi, said a company statement.

Out of Rs 48.60 crores, Rs 34.02 crores will be subscribed through Term Loan by PFC and its associates, while the remaining Rs 14.58 crores will be subscribed by issue of Equity Shares to Promoter's and it's associates, the statement added.

The project in likely to be implemented by August, 2008, the statement added.

UNI AK BJR KN1642

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