SJVN Arun- 3 Power Development Company, a Nepal-based subsidiary of SJVN Ltd, has signed the term loan documents for drawl of Rs.6,333.40-crore loan with the consortium of banks from India and Nepal.
The consortium of lenders — led by State Bank of India and Punjab National Bank — has Canara Bank, Union Bank of India, Everest Bank (Nepal) and Nabil Bank (Nepal) as its members.
The term loan signing ceremony was performed in the presence of Nand Lal Sharma, Chairman & Managing Director, SJVN and A. K. Singh, Director (Finance), apart from other senior officers, a release by SJVN said.
Also See: SJVN CMD holds talks with Nepal PM to discuss Arun-3 project
SJVN is committed to complete the construction of the 900-mw Arun-3 hydropower project in FY24 — one year ahead of the scheduled commissioning date of February 2025. Implemented by SJVN’s wholly-owned subsidiary “SJVN Arun-3 Power Development Company,” the project is currently in an advanced stage of construction.
It may be noted that SJVN has also been allotted the Lower Arun hydropower project by the government of Nepal.
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