Adani Group achieves financial closure for Kutch Copper project phase 1

27 Jun 2022 , 09:26 AM

Kutch Copper (KCL), a subsidiary of Adani Enterprises (AEL), is setting up a greenfield copper refinery project for production of refined copper with 1 MTPA (million tons per annum) in two phases. For the phase1 capacity of 0.5 MTPA, KCL has achieved financial closure through a syndicated club loan for the greenfield copper refinery project at Mundra, Gujarat, with the execution of financing documents with the consortium of banks led by State Bank of India (SBI). The other consortium members are Bank of Baroda, Canara Bank, EXIM Bank of India, Indian Bank, Punjab National Bank, and Bank of Maharashtra. The consortium of banks has sanctioned and signed agreement for the entire debt requirement of Rs 6071 crore for the Phase1 of the KCL Project.Powered by Capital Market – Live News