SJVN Signs MoU with Consortium Led by SBI for Arun 3 Hydro Electric Project MOU

SJVN Signs MoU with Consortium Led by SBI for Arun 3 Hydro Electric Project

 

Shimla: SJVN Ltd. has entered into an MoU with a consortium of Banks led by State Bank of India for the 900 MW Arun-3 Hydro Electric Project (Nepal). The other constituents of the consortium are Everest Bank Limited (Nepal) and NABIL Bank Limited (Nepal).
 
The MoU was signed in the presence of Ex-Prime Minister of Nepal Shri Pushpa Kamal Dahal, Finance Minister of Nepal Dr. Yuba Raj Khatiwada, Chairman & Managing Director, SJVN Shri Nand Lal Sharma & Deputy Managing Director of State Bank of India, Shri P. N. Prasad. While Shri Satish Sharma, CEO, SJVN Arun 3 Power Development Company (SAPDC) signed the agreement on behalf of SJVN Limited.
 
On this occasion Shri A. S. Bindra, Director (Finance), Shri Kanwar Singh, Director (Civil), Smt. Geeta Kapoor, Director (Personnel) along with other senior officers from SJVN and SAPDC were also present.
 
According to the MoU consortium will provide a total term loan of INR 4913 crores (NPR 7860 Crores) in which State Bank of India will be providing INR 4100 crores (NPR 6560 Crores) the rest will be provided by Everest Bank limited and NABIL Bank Limited.
 
Shri Nand Lal Sharma, Chairman & Managing Director, SJVN said that the Project shall be financed on 70: 30 debt-equity ratio. Accordingly, SJVN will contribute INR 2105 crores (NPR 3369 crores) as equity while INR 4913 crores (NPR 7860 Crores) will be the debt portion. With the present net worth of more than INR 10,000 crores and cash reserves of around INR 2,900 crores, SJVN has sufficient financial backing to provide for the equity part. He further asserted that, with India’s Largest Hydro Power Station in its kitty, SJVN has proven expertise of technically executing large Hydro Power Projects, with major underground components, in typical and challenging Himalayan Geology.
 
SJVN is executing 900 MW Arun 3 Hydro Electric Project, through its wholly-owned subsidiary SJVN Arun 3 Power Development Company (SAPDC). The project was awarded to SJVN Limited on a build-own-operate-transfer (BOOT) basis for a period of 30 years. The total project cost is likely to be INR 7018 crores (NPR 11,229 crores), which includes both generation and transmission part.


Posted Date :  01-04-19

Categories : MOU

Similar news

NTPC signed Term Loan of Rs. 2000 crore with Canara Bank

New Delhi: NTPC Limited, has signed a term loan agreement for Rs. 2000 crore with Canara Bank on 5th April 2019. The loan facility is extended at an interest rate linked to 3-Month MCLR of the Bank. This loan has a door to door tenure of 15 years and will be utilised to part finance the capital
Posted Date :  08-04-19

Read more

Synergy Between WAPCOS and NPCC

New Delhi: WAPCOS Limited and NPCC Limited have combined to derive synergy from their strengths of Engineering, Procurement and Construction to accelerate Water Resources, Power and Infrastructure projects in India and promote bilateral cooperation with other Countries under the guidance of Gover
Posted Date :  04-04-19

Read more

NRDC signed MoA with IOCL for Implementation of IOCL Startup Scheme

New Delhi: National Research Development Corporation (NRDC), has signed an MoA with Indian Oil Corporation Limited (IOCL), Faridabad for Implementation of IOCL Startup Scheme on 30th March 2019.   IOCL created a revolving fund of Rs. 30 Crores for each round of investment. In the first r
Posted Date :  03-04-19

Read more

ITI Inks MoU with CECRI-CSIR for Manufacturing of Lithium Ion Cells

Bangalore: ITI Limited has signed a Memorandum of Understanding (MoU) with Central Electro Chemical Research Institute (CECRI-CSIR), a leading Research Institute engaged in Electrochemical Research of Lithium lon cells with patents of different compositions for the year 2019-2020.    T
Posted Date :  28-03-19

Read more

PFC signs agreement to acquire majority stake in REC Limited

Power Finance Corporation Ltd. (PFC) has today signed a Share Purchase Agreement to acquire 103.94 crore equity shares of INR 10/- each, of REC Limited from the President of India constituting 52.63% of the paid-up share capital of REC Limited. This is a major milestone achieved by PFC, who is no
Posted Date :  22-03-19

Read more

NTPC Signs Pact with Indian Railways for Fly Ash Transportation

New Delhi: NTPC Limited on Thursday said it has teamed up with the Indian Railways for fly ash transportation, a move that will help enhance ash utilisation at Rihand and Vindhyachal Super Thermal Power plants.    NTPC has signed a Memorandum of Understanding (MoU) with Hazipur-based Ea
Posted Date :  15-03-19

Read more

AAI Signed an MoU with Government of U. P. for Kushinagar Airport

New Delhi: Airports Authority of India (AAI) signed a Memorandum of Understanding (MoU) with State Govt. of Uttar Pradesh for taking over the development and operationalisation of existing Kushinagar Airport belonging to State Govt. of Uttar Pradesh today. The MoU was signed by Shri Surya Pal Gan
Posted Date :  06-03-19

Read more

BEL signed MoU with Elettronica SpA

Bengaluru: Bharat Electronics Limited (BEL) and Elettronica SpA (ELT), Italy, has entered into an MoU for Joint Development, Commercialisation and Production of New Generation EW Surveillance Systems on 22th February 2019 at Aero India 2019, Bengaluru.   Mrs. Anandi Ramalingam, Director
Posted Date :  23-02-19

Read more

BEL signed MoU with Bharat Forge

Bengaluru: Bharat Electronics Limited (BEL) and Bharat Forge Limited (BFL) have entered into an MoU for strategic co-operation in the field of Defence and aerospace products/systems to jointly capitalise on the emerging opportunities in the domestic market, leveraging the policy initiatives of th
Posted Date :  23-02-19

Read more

NLC Signed an MoU with NHPC for Power Trading

Chennai: NLC India Limited has signed an MoU with NHPC Limited for Power Trading today on 18th February 2019 in Chennai. The MoU was signed by Shri A. Ganesan, Executive Director (Commercial), NLC India Ltd., Shri D. Chakraborty, CGM (Finance) NHPC Ltd. and Shri Nadella Naga Maheswar Rao, Direct
Posted Date :  18-02-19

Read more

MoU on Wage Revision Signed at NHPC

Faridabad: A Memorandum of Understanding on Wage Revision of Workmen has been signed between NHPC, and its Apex Level Union Representatives on 12th February 2019. Shri N. K. Jain, Director (Personnel), Shri Avinash Kumar, Executive Director (HR), Shri Vijay Kumar, Executive Director (Finance) and
Posted Date :  13-02-19

Read more

NTPC Signed Term Loan of Rs. 5000 Crore with State Bank of India

New Delhi: NTPC Limited, has signed a term loan agreement for Rs. 5000 crore with State Bank of India today 11th February 2019. The loan facility is extended at an interest rate linked to 3-Month Marginal Cost of Funds based Lending Rate (MCLR) of the Bank. This loan has a door to door tenure
Posted Date :  11-02-19

Read more

Indian Railways Joins Hands with TERI to Study Impact of bio-toilet

New Delhi: India is expected to have its High-Speed Train by 2022. Indian Railways is considering the year 2019 as the dawn of the new era of technology and customer satisfaction. Railways in India has been serving the nation now for over 150 years and now moving to the next level of its perform
Posted Date :  09-02-19

Read more