Relaince's Sasan power project tied up loans from Chinese lenders

Reliance Power has tied up loans of $ 1.1 billion (over Rs 6,000 crore) from three Chinese lenders for its upcoming 3,960 MW Sasan ultra mega power project in Madhya Pradesh.

The State Council of Government of China has granted the final approval for Chinese banks to finance the Sasan project.

The Approvals have also been granted by Ministries of Finance, Foreign Affairs and Commerce.

The long-term loans have a duration of over 13 years. Sources said the Chinese banks' financing is to support import of Boiler-Turbine Generator (BTG) from Shanghai Electric Group Company Ltd.

Source: ET