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Wednesday, Dec 15, 2004

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IDBI funding for power projects

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MUMBAI: IDBI Ltd has sanctioned Rs 1,500 crore for funding power projects this year.

The financial institution has sanctioned Rs 9,000 crore towards various infrastructure projects so far this year, compared with Rs 7,500 crore sanctioned for the financial year ended March 2004, Mr Jitendra Balakrishnan, Executive Director, IDBI Ltd, said here at an energy seminar today.

Of the 28 power projects sanctioned last year, 20 have already been commissioned, Mr Balakrishnan said.

"In the last four months IDBI has signed assistance worth Rs 4,000 crore to three large projects adding up to 1,700 mega watt. IDBI's exposure to the project will be Rs 900 crore," he said.

The ventures sanctioned this year include rural electrification projects worth Rs 500 crore, Mr Balakrishnan said.

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