TCG in talks with global firms for Odisha and Tamil Nadu mega projects
The Chatterjee Group (TCG) is in talks with global energy firms to enlist them as equity partners for its upcoming petrochemicals project in Odisha, and is also on the lookout for partners and strategic investors for its project in Tamil Nadu.
TCG, which is looking at a 2:1 debt-equity ratio to fund these projects, is also planning to approach investors and banks to raise capital in the next six months, a person aware of the development told Business Standard.
TCG, owned by Purnendu Chatterjee, is planning to invest around Rs 78,000 crore in Odisha and Rs 50,000 in Tamil Nadu.
“The estimated investments will take place over a five-year time period, and as projects keep coming up, funds will be needed. TCG is in talks with global companies both for equity partners as well as strategic investors,” the person said.
