Message Lun 3 Mar 2014 14:50

Nava Bharat to tie-up funds for 300-Mw Zambia power project

Nava Bharat to tie-up funds for 300-Mw Zambia power project by June
Of total investment of $700 mn (around Rs 4,340 cr) proposed to be infused into project, total loan component comprises $560 mn
K Rajani Kanth | Hyderabad March 3, 2014

Nava Bharat Ventures Limited, a Hyderabad-based company with interests in power, coal mining, ferro alloys and sugar, expects to achieve financial closure (on a non-recourse basis) for its mine-mouth, coal-fired power project in Zambia by June 2014.

Of the total investment of $700 million (around Rs 4,340 crore) proposed to be infused into the project, the total loan component comprises $560 million, for which sanctions have already been received.

The commissioning of the project is scheduled in the fourth quarter of FY2015, the company said in its investor presentation submitted to the exchanges on Monday.
About 65% of work on the project, being developed by Nava Bharat's unit Maamba Collieries Limited, has been completed. The company has already entered into power purchase and transmission agreements with Zambian state power company Zesco for the 300 Mw.

Besides meeting the base load requirements of the Grid, the project presents an opportunity to export power to South African Power Pool (SAPP) countries, Nava Bharat said.
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU