Consortium to subscribe to JSW energy project

By Staff
|
Google Oneindia News

Mumbai, Aug 2 (UNI) A consortium of 21 banks and institutions, led by SBI Capital Markets, have stepped in for the Rs 4,500 crore JSW Energy project at Ratnagiri by offering to subscribe to the entire Rs 3,375 crore debt portion.

''The boom in the Indian economy has given rise to a huge demand for energy ... we plan to cater to this demand through the project,'' JSW chairman Sajjan Jindal said in a press release.

The 1200 MW power project is the country's first imported coal based power project of such size in a single phase as an IPP (Independent Power Producer) to acheive financial closure. The poroject will consist of four units of 300 MW each. The project has a debt:equity ratio of 3:1, the release said.

UNI

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