Mumbai: Engineering equipment supplier BGR Energy Systems Ltd on Monday said it has raised Rs3,850 crore through a consortium of 11 banks, led by IDBI Bank Ltd. “The company has signed up a Rs3,850 crore credit line to fund its working capital requirements for execution of 2x600MW thermal power project of Rajasthan Rajya Vidyut Utpadan Nigam Ltd,” BGR Energy said in a filing to the Bombay Stock Exchange.
GE unit signs deal with NPCIL, Bhel for reactors
Mumbai: GE Hitachi Nuclear Energy has signed preliminary agreements with Nuclear Power Corp. of India Ltd (NPCIL), the nation’s monopoly atomic energy producer, and Bharat Heavy Electricals Ltd (Bhel) to build nuclear reactors. The three firms will collaborate in setting up 1,350MW reactors, Wilmington, New Carolina-based GE Hitachi said in an emailed statement on Monday, without specifying how many units would be built.
‘Stake in Malco will rise to 93% after buyout’
London: Anil Agarwal-led Vedanta Resources Plc. said its stake in the Madras Aluminium Co. Ltd will rise to 93% following a shareholder buyout.
Vedanta announced its offer on 26 February and will pay $34 million for about 15 million Malco shares, the London-based company said in a statement on Monday.
Refiners get Rs10,000 cr bonds as compensation
New Delhi: Indian Oil Corp. Ltd and other state refiners got Rs10,000 crore of bonds from the government to help narrow loss of revenue from selling fuels below cost.
The bonds maturing in 2026 will pay 8% interest, the finance ministry said in a release in New Delhi on Monday.
The bonds will not be eligible for investment by banks to meet their statutory requirements, said the release.