The project which is valued at R9000 Cr is likely to be taken over by Srei's group company
Lenders to the group include @Rural_ElectrificatiC Limited(REC) and @StateBankOfIndia (SBI). The
SBI has lent around R2200 Cr to the group, but has R3200 Cr of collateral pledged with it. REC has sanctioned around R2000 Cr for the project and has released R650 Cr.
Slowing growth, high borrowing costs and delays in securing regulatory approvals have hit many infrastructure projects in
Abhijeet group which has interests spread across power, roads, mining, epc, ferroalloys, steel and cement is one among alleged beneficiaries of the previous government's irregular allotment of coal mines.
The company is setting up a 450 MW Thermal Power Plant in Haldia,
The Company also owns and operates a distribution license under the brand of
Other recent deals in this space;
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