HYDERABAD: GMR Infrastructure Ltd (GIL) Friday said its lenders approved a resolution plan for its stressed gas-based power plant in Andhra Pradesh. It added that the company paid part of the sustainable debt as part of the plan, while the remaining is repayable over the next 20 years. The resolution plan for GMR Rajahmundry Energy Limited (GREL) included a reduction of its Rs 2,353 crore debt to sustainable debt of Rs 1,412 crore.
“Against the above sustainable debt, GMR Group has already infused an amount of Rs 395 crore towards meeting 20 per cent of principal towards repayment of the sustainable debt and the interest servicing obligations of GREL for the first year,” GMR said.
