State-owned SJVN on Tuesday signed papers to get a Rs 6,333.40-crore loan from a consortium of banks from India and Nepal for funding of its Arun-3 power project in Nepal.
"SJVN Arun-3 Power Development Company, a subsidiary of SJVN Ltd in Nepal, today (on Tuesday) signed term loan documents for drawl of Rs 6,333.40-crore loan with the consortium of banks from India and Nepal," the company said in a statement.
The consortium, led by SBI India and PNB, have Exim Bank, Canara UBI & Everest Bank, Nepal & Nabil Bank, Nepal as consortium members, according to the statement.
SJVN Chairman and Managing Director Nand Lal Sharma re-affirmed SJVN's commitment to complete the construction of 900-MW Arun-3 HEP (hydro electric project) in Nepal in the financial year 2023-24, one year ahead of the scheduled commissioning of the project in February 2025, as required under Project Development Agreement and Financing Documents.
The documents were signed by Jitendra Yadav, chief finance ...
