{"id":21886,"date":"2015-07-03T12:13:06","date_gmt":"2015-07-03T12:13:06","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=21886"},"modified":"2015-07-03T12:13:06","modified_gmt":"2015-07-03T12:13:06","slug":"gvk-powers-goindwal-project-cost-shoots-up-to-rs-4573-crore","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/gvk-powers-goindwal-project-cost-shoots-up-to-rs-4573-crore\/","title":{"rendered":"GVK Power&#8217;s Goindwal project cost shoots up to Rs 4,573 crore"},"content":{"rendered":"<p>GVK Power today said the cost of its 540-MW Goindwal Sahib thermal power project in Tarn Taran district of Punjab is now estimated at Rs 4,573 crore, sharply higher than the earlier estimate of Rs 3,200 crore. <\/p>\n<p>&#8220;The project cost of GVK Power (Goindwal Sahib), a step-down subsidiary of our company, is estimated at Rs 4,573 crore up to November 1, 2015, after considering various factors,&#8221; GVK Power said in a BSE filing. <\/p>\n<p>The cost escalation means a higher debt load for the company. The company further said: &#8220;&#8230;the loan documents are purely bilateral between the lenders and the company. Therefore, it&#8217;s not appropriate on our part to reply&#8230; Hence, we cannot comment on such articles.&#8221; <\/p>\n<p>GVK Power (Goindwal Sahib) had completed the financial tie-up and arranged Rs 2,400 crore as loan for the power project in the beginning of 2010. <\/p>\n<p>Then, the total cost of the project was estimated at Rs 3,200 crore, of which Rs 800 crore was equity and the rest debt. <\/p>\n<p>IDBI Bank had syndicated the debt, apart from being one of the lenders in the consortium of bankers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GVK Power today said the cost of its 540-MW Goindwal Sahib thermal power project in Tarn Taran district of Punjab is now estimated at Rs 4,573 crore, sharply higher than the earlier estimate of Rs 3,200 crore. &#8220;The project cost of GVK Power (Goindwal Sahib), a step-down subsidiary of our company, is estimated at Rs 4,573 crore up to November 1, 2015, after considering various factors,&#8221; GVK Power said in a BSE filing. The cost escalation means a higher debt load for the company. The company further said: &#8220;&#8230;the loan documents are purely bilateral between the lenders and the company. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-21886","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/21886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=21886"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/21886\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=21886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=21886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=21886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}