BGR Energy to take up EPC contracts for Kalisindh project

Mumbai: BGR Energy Systems on Monday said it has signed credit lines worth Rs 3,850 crore for execution of EPC contracts of 1200 megawatts at the
Kalisindh Thermal Power Project in Rajasthan.

A consortium of eleven banks led by IDBI Bank will arrange the line of credit for the company’s dual currency EPC power project contract consisting of Rs 3,296 crore and $450 million, a statement issued by BGR said.

The contract came from the Rajasthan Rajya Vidyut Utpadan Nigam. The fund arranged in dollar will be utilised for the financing of imported equipments, which has mainly come from China.

BGR said it has mandated IDBI Bank to arrange fund-based facility of Rs 700 crore and non-fund based (bank guarantee and letter of credit) facilities of Rs 3,150 crore.

BGR Energy’s current net borrowings stand at Rs 725 crore and this new credit line of Rs 700 crore will be drawn down over 30 months.