Monday, July 16, 2012

Reliance Power’s Sasan project will be funded by Chinese banks

RPower has tied up loans of $1.1 billion from three Chinese lenders for its upcoming 3.960 MW Sasan Ultra Mega Power Project(UMPP) in Madhya Pradesh. The loans would be provided by Bank of China, China Development Bank and The Export Import Bank of China along with Standard Chartered Bank. It would be the largest financing by Chinese Banks for an Indian project. The Sasan project being set up at a cost of about $ 4 billion, would start power generation in December 2012. The Chinese banks had signed an MoU with Reliance Power to finance $ 12 billion for its project in 2010.

Miscellaneous Informations

BLR – Bank Loan Ratings
NABARD Chairman – Dr Prakash Bakshi
DSIM – Department of Statistics and Information Management
National Bank for Agricultural and Rural Development -NABARD
South East Asian Nations -ASEAN

Coal India Ltd to invest on rail infrastructure in three States

Coal India Ltd will be investing Rs 7,500 crore to develop railway infrastructure in Chhattisgarh, Jharkhand and Odisha. These rail lines will be used to evacuate coal from the three States.
Coal India has cash reserves of Rs 58,202.78 crore as on March 30. It has planned a capital expenditure of Rs 30,000 crore during the 12th Plan.
Chairman and Managing Director of Coal India Ltd – Mr S. Narsing Rao.

Banks' audit reforms implementation and monitoring committee

The Union Government has appointed Mr K. Sarasimha Murthy as the member convenor of the Implementation and Motioning Committee to oversee the audit reform process in public sector banks. The committee will be ensuring that this process is completed by March 31, 2013.

Sushil will be India’s flag-bearer at Olympics

Indian Olympic Association (IOA) announced that wrestler Sushil Kumar, a bronze medallist at the Beijing Games, will be the flag-bearer of the Indian squad at the London Olympics.

This announcement was made by IOA acting president V.K. Malhotra

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