SPML Infra Ltd has announced that it has received the sanction of enhanced credit facilities amounting to Rs.205 crore.
The credit facilities including the Bank Guarantee (BG) limit is sanctioned by one of the India’s top Public Sector Undertaking (PSUs) bank. This significant development is a testament to the financial robustness and credibility of SPML Infra business operations, a release by SPML Infra said.
This non-fund-based facility will significantly enhance the company’s ability to meet contractual obligations and support the efficient execution of infrastructure development and EPC projects.
The sanctioned limit will specifically facilitate the issuance of performance guarantees, bid securities, and advance payment guarantees; critical instruments in ensuring timely and successful project delivery, the release noted.
Strengthening operational capabilities
Commenting on the development, Subhash Sethi, Chairman, SPML Infra Ltd, said, “The availability of this facility will not only strengthen our operational capabilities but also enable us to participate in large-value projects across sectors. Through this enhanced financial support, SPML Infra will expand its project portfolio while further reinforcing the trust and confidence of our clients, suppliers, partners, and stakeholders. We extend our sincere gratitude to Bank for their unwavering trust and continued support in our long-term growth journey.”
BESS foray
This credit facility will be availed across SPML Infra’s project portfolio spanning water and energy, including battery energy storage system (BESS) projects. It may be recalled that in April this year, SPML Infra announced its debut in the BESS space in collaboration with US-based Energy Vault. (Read T&D India’s exclusive interview with Subhash Sethi, Chairman, SPML Infra Ltd, on the BESS foray)