SBICAP executes 1200 MW power project mandate in Botswana

Mumbai, May 21 (UNI) SBI Capital Markets Ltd (SBICAP), the investment banking arm of State Bank of India, today announced that it has been appointed as the financial advisor by Botswana Power Corporation (BPC) for setting up new coal-based power generation plants.

SBICAP will advise BPC on project structuring, financial advisory and all project contracts, besides assisting the syndication of debt.

The plants will be set up in two phases, each of 600 mega watt capacity. The cost of the Phase-I Project, which is expected to be commissioned by 2010, is estimated at about US one billion dollars.

The project is proposed to be executed via special purpose vehicle (SPV) route with debt, equity ratio of 80:20.

SBICAP senior vice president&Group head Supratim Sarkar said ''The BPC project would go a long way in bridging Botswana's power deficit. With our expertise, we can tie-up the requisite funds for the project and help BPC in its endeavours.'' Founded in 1986, SBI Capital Markets Ltd (subsidiary of State Bank of India) is one of India's leading investment bank and project advisor. It offers services across all business segments.

UNI