Tata Power on Thursday said its subsidiary CGPL has repaid Rs 1,550 crore of bank loans.
Coastal Gujarat Power Ltd (CGPL) repaid the amount on December 2, Tata Power said in a BSE filing.
“With this repayment and the earlier repayment of Rs 2,600 crore of bank loans made in October 2020, the entire bank loans of CGPL aggregating Rs 4,150 crore have been fully repaid. After this repayment, CGPL’s long-term debt comprises only Rs 3,790 crore of bonds and debentures,” it added.
This action is in line with the company’s objective of repaying debt in CGPL to reduce the periodic debt servicing obligations of CGPL and thus make its operations more self-sustainable, the filing said.
CGPL runs the Mundra ultra mega power project.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.