GVK Power secures Rs 2,400-cr for Punjab project

GVK Power (Goindwal Sahib), a wholly-owned subsidiary of the Hyderabad-based GVK Power, today said it has tied up Rs 2,400 crore for its power project in Punjab.

"GVK Power (Goindwal Sahib) has signed all financing documents with the consortium of lenders for its 540 Mw thermal power project at Goindwal Sahib in Punjab," a company statement said today.

The total cost of the project is Rs 3,200 crore of which Rs 800 crore is equity and the remaining is debt.

IDBI Bank has syndicated the debt apart from being one of the lenders in the consortium of bankers.