There has been a lot of buzz around heightened competition between Indian power companies and Chinese companies. With project implementations in China slowing down, Chinese banks have started offering loans on projects at lower rates to finance more than USD 50 billion worth of power equipment for Indian companies.
For Indian power firms, this is a big leg-up since local banks are reluctant to lend to these companies. MS Unnikrishnan, the managing director of Thermax says the promise of a line of credit from Chinese banks will only heat up the competition even more. However, power companies continue to witness a slowdown in order inflows and the US downgrade hasnDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
