According to banking executives with knowledge of the matter, the company is discussing a monetary rescue of a 3,600 MW thermal power plant in Chhattisgarh that has a debt of 30,000 crore rupees and is unable to repay the debt.
The state-owned energy giant is considering cooperating with banks to rescue KSK Mahanadi Energy, a holding company that owns the plant. These executives said that after the previous injection of funds into the company, this cooperation may adopt a 50:50 tripartite partnership (JV) type between NTPC and the bank.
“The value of our assets is not high. If we enter the joint venture directly, then we can benefit from future challenges by holding fair shares. That is a working asset.”
“Nevertheless, the discussion is still in its early stages,” the government representing the banking consortium informed ET on an anonymous basis. “The value of our assets is not high. If we enter the joint venture directly, then we can benefit from future challenges by holding fair shares. That is a working asset.”
The National Financial Institution of India is the most important lender of KSK Mahanadi Energy, with a high-quality mortgage of Rs 5,000 crore. It also cited non-public guarantees provided by the former promoters of KSK Mahandi Energy, S Kishore and KA Sastry, to repay its due.
, Tata and JSPL-have submitted curiosity about accumulation plants. Nonetheless, according to sources, banks should not guarantee that they will obtain attractive quotations mainly based on preliminary discussions with them, and have chosen to conduct parallel discussions with NTPC to seek alternative answers.
News Source : The Times Of Truth
