TATA Steel closed largest project financing deal worth Rs.22,800 crore

Tata Steel Kalinganagar's Rs. 22,800 crore project financing loan is the largest project financing loan on record, according to the global deal-tracking firm Dealogic.

Tata Steel on May 22 said it has closed project financing for the project and it had recently gotten funding commitment from a consortium of 21 banks for Rs. 22,800 crore.

The new greenfield six million tonne steel plant in Kalinganagar is likely to be implemented in two phases of 3 million tonne each.

Source: Business Line