A consortium of 21 banks has offered funding commitment of Rs 22,800 crore for Tata Steel Odisha’s
proposed greenfield 6 million tonne steel plant in Kalinganagar. According to Dealogic, global deal tracking firm, this is the largest project financing loan on record.
The company plans to implement the project in two phases of 3 million tonne each.
So far in 2013, the India project financing loan volume stood at $14.7 billion, 13 per cent higher than $12.9 billion lent in the same period in 2012.
Project finance loan volume in Asia (excluding Japan) stood at $19.9 billion so far in 2013, which is 30 per cent lower than $28.5 billion in the year-ago period and marks the lowest year-to-date (YTD) level since 2007 ($11.4 billion).
State Bank of India lead the Asia (excluding Japan) syndicated loan bookrunner ranking in 2013 so far this year with a 22.5 per cent market share, followed by Bank of China Ltd and Standard Chartered Bank with 7.6 per cent and 4.4 per cent shares, respectively.
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