SBICAP's project finance syndication mandates crosses Rs 40,000 cr

Mumbai, July 19 (UNI) SBI Capital Markets (SBICAP), the investment banking subsidiary of State Bank of India, has said its total project finance syndication mandates on hand has crossed Rs 40,000 crore mark.

The Company has received syndication mandates of over USD 600 million for projects abroad. Furthermore, it is pursuing mandates to the tune of Rs 91,000 crore mainly in the areas of roads, ports, oil and gas, and aviation in India and abroad.

Mr Indrajit Gupta, MD&CEO of SBI Capital Markets, told reporters here today that recently SBICAP syndicated one of the largest project finance deals in the country for Bhart Oman Refinery Ltd (BORL), a special purpose company promoted by Bharat Petroleum Corporation Corporation Ltd (BPCL), for setting up a 6 MMTPA Greenfield refinery at Bina in Madhya Pradesh and its associated infrastructure comprising crude receiving facilities at Vadinar in North Gujarat, a 935-km long cross country pipeline and a captive power plant of 126 MW.

SBICAP was the sole financial advisor and arranger for this transaction and a consortium of 20 lenders led by the State Bank of India have committed a 14 year project finance term loan aggregating Rs 638.70 crore.

Mr Gupta said, ''In the current year, we plan to focus on fee and transaction based income, strengthen our retail broking business by foraying into DP services and e-broking; leverage the international business through the UK subsidiary and further consolidate our market leadership position in project advisory and syndication activity; and adopt robust employees'engagement policies.'' UNI AR MAZ VKG1835