Tata Steel Odisha’s Rs 22,800-cr proj financing largest on record

 Tata Steel Odisha's Rs 22,800 crore project financing loan is the largest project financing loan on record, global deal tracking firm Dealogic says.

Tata Steel on 22 May said it has closed project financing for the Odisha project and it recently got funding commitment from a consortium of 21 banks for Rs 22,800 crore.

The new greenfield six million tonne steel plant in Odisha's Kalinganagar is likely to be implemented in two phases of 3 million tonne each.
Meanwhile, the India project financing loan volume stood at $14.7 billion in 2013 so far this year up 13 per cent from $12.9 billion lent in the same period in 2012.

In contrast, the Asia (excluding Japan) project finance loan volume stood at $19.9 billion in 2013 so far this year, down 30 per cent on the $28.5 billion borrowed in 2012 year-to-date and marks the lowest YTD level since 2007 ($11.4 billion).The deal activity at 75 deals in 2013 YTD is down from 105 signed in same period 2012 and the lowest deal count since 2009 YTD (46 deals).State Bank of India lead the Asia (excluding Japan) syndicated loan bookrunner ranking in 2013 so far this year with a 22.5 per cent market share, followed by Bank of China
Ltd and Standard Chartered Bank with 7.6 per cent and 4.4 per centshares, respectively.