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Sterlite funding for Orissa power project

Our Bureau

Mumbai, June 30 Sterlite Industries (India) said on Monday that it had tied up funds for a 2,400-MW Orissa power project.

A consortium of 19 lenders, led by the State Bank of India, has committed a term loan of Rs 6,150 crore to Sterlite Energy, a fully owned subsidiary of Sterlite Industries, according to agency reports.

The project envisages a total capital outlay of Rs 8,200 crore, proposed to be funded by Rs 6,150 crore of debt and Rs 2,050 crore of equity.

It is expected to be fully commissioned by mid-2010.

More Stories on : New Projects | Power | Sterlite Industries (India) Ltd

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