KIPCL to raise Rs 7.7K crore in term loans

The Irrigation department issued two separate GOs to this effect.

Published: 24th January 2019 10:25 AM  |   Last Updated: 24th January 2019 10:25 AM   |  A+A-

By Express News Service

HYDERABAD: The State government on Wednesday permitted the Kaleshwaram Irrigation Project Corporation Limited (KIPCL) to raise further term loans of Rs 7,784.95 crore. The Irrigation department issued two separate GOs to this effect.

The State government on Wednesday accorded permission to KIPCL to borrow a term loan of Rs 2,379.56 crore, which was sanctioned by the Power Finance Corporation (PFC) Limited, including IDC, in respect of Package-21(A) of the Kaleshwaram Project. The State government’s guarantee for the said loan would be extended from 2019-20 financial year. The loan amount would be utilised for the construction of pressured pipe irrigation system consisting of pipeline (MS,DI,HDPE), valves, thrust blocks, EM and HM components, according to orders issued on Wednesday by Chief Secretary SK Joshi.

In another order, the government accorded permission to KIPCL to borrow term loan of Rs 5,405.39 crore sanctioned by the Power Finance Corporation (PFC) Ltd., including IDC, with respect to Link -I of the Kaleshwaram project. The State government’s guarantee would be extended for this loan from 2019-20 financial year. The loan amount would be utilised for the construction of balance work of PH, Forebay, EM and HM, pressure mains, gates, sub-stations and its associated civil works in respect of Link-I of the Kaleshwaram Project.

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