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Released June 14, 2013 | JOHANNESBURG
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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Tata Steel (BSE:500470) (Mumbai, India) has closed project financing for the new, 6 million-ton-per-year greenfield steel plant in Kalinganagar, Odisha. The company obtained a funding commitment from a consortium of 21 banks for $4 billion.
This is the largest project financing loan on record in India. So far in 2013, the total volume of project financing loans is $14.7 billion, which is up 13% from the same period last year.
In Asia, excluding Japan, project loan volume stood at $19.9 billion in 2013, down 30% from the same period last year. This is the lowest year-to-date level since 2007 ($11.4 billion).
Excluding Japan, State Bank of India leads Asia in syndicated bookrunner banking so far this year with a 22.5% share, followed by Bank of China with 7.6% and Standard Charter Bank (London, England) at 4.4%.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
This is the largest project financing loan on record in India. So far in 2013, the total volume of project financing loans is $14.7 billion, which is up 13% from the same period last year.
In Asia, excluding Japan, project loan volume stood at $19.9 billion in 2013, down 30% from the same period last year. This is the lowest year-to-date level since 2007 ($11.4 billion).
Excluding Japan, State Bank of India leads Asia in syndicated bookrunner banking so far this year with a 22.5% share, followed by Bank of China with 7.6% and Standard Charter Bank (London, England) at 4.4%.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
