 GMR Group achieves fin closure of Kamalanga EnergyPublished on Wed, May 27, 2009 at 15:01 | Source : CNBC-TV18 Updated at Wed, May 27, 2009 at 17:08 Like this story, share it with millions of investors on M3
GMR Kamalanga Energy has tied-up a debt of Rs 3,405 crore with 13 banks for a tenure of 16 years. KVK Rao, Director, GMR Energy, said the project will be fully operational commercially in the current Five Year Plan. He added the first unit will be commissioned by October 2011 and the second unit will be commissioned in December 2011 and the last unit will be in February 2012. The returns are expected as per the policy and this will give fair returns to the group, he added. Also see: GMR Group looking at coastal sites for power plants Here is a verbatim transcript of the exclusive interview with KVK Rao on CNBC-TV18. Also watch the accompanying video. Q: What is the cost of the money that you took to achieve financial closure here and when do we go into commercial production from this point onwards? What kind of return or yields do you expect out of this particular project? A: The total project cost is priced at Rs 4,540 crore and a debt equity ratio of 3:1. This will be commercially fully operational in the current Five Year Plan. By 2012 the first unit will be commissioned in the month of October 2011 and the second unit will be in the month of December 2011 and the last unit will be in February 2012. The returns are expected as per the policy and this will give fair returns to the group. Continued on page 2...
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The GMR Group has achieved financial closure of GMR Kamalanga Energy, which is a 1050 MW coal-based power project. The total cost of GMR Kamalanga Energy project is estimated at Rs 4,540 crore. 
