Mumbai airport operator ties up 42 bln rupee loans
MUMBAI (Reuters) - Mumbai International Airport Pvt. Ltd. (MIAL), in charge of modernising Mumbai airport, said on Tuesday it had tied up long-term debt of 42 billion rupees from banks and financial institutions.
MIAL, a consortium led by GVK Power & Infrastructure Ltd., said it raised the loans for a 17-year period from a clutch of institutions led by IDBI.
The loans were pegged 215 basis points above the yield on 3-year government securities, MIAL said in a statement.
MIAL plans to spend 70 billion rupees over 20 years to build an integrated passenger terminal, upgrade runways, and create related infrastructure as part of the project to double capacity to 40 million passengers at one of India's busiest airports.
Source : Reuters
MIAL, a consortium led by GVK Power & Infrastructure Ltd., said it raised the loans for a 17-year period from a clutch of institutions led by IDBI.
The loans were pegged 215 basis points above the yield on 3-year government securities, MIAL said in a statement.
MIAL plans to spend 70 billion rupees over 20 years to build an integrated passenger terminal, upgrade runways, and create related infrastructure as part of the project to double capacity to 40 million passengers at one of India's busiest airports.
Source : Reuters
posted by anandsonline @ Wednesday, April 25, 2007
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