China Eximbank contributes $88 million to $288 million syndicated loan for 1320 MW Coal-Fired Jhajjar Power Plant Project (Linked to Record ID#54344)

In 2010, China Eximbank and CDB contribute to USD 288 million syndicated loan for 1320 MW Coal-Fired Jhajjar Power Plant Project, India On November 17, 2010, China Development Bank (CDB), Export-Import Bank of China (CEXIM), Hong Kong and Shanghai Banking Corporation (HSBC), Standard Chartered Bank, and Bank of Tokyo-Mitsubishi UFJ provided a $288 million syndicated loan to CLP India Private Limited — a subsidiary of CLP Group — for the 1320 MW Coal-Fired Power Plant Project in Jhajjar, Haryana.

The loan carries a 13.5-year maturity (final maturity date is May 17, 2024). The interest rate and grace period are unknown. Sinosure provided insurance for the syndicated loan.

China Eximbank reportedly contributed $88 million to the loan facility (captured via Record ID#54343) and China Development Bank (CDB) contributed $100 million (captured via Record ID#54344).

The loan is refinancing a part of a INR 39 billion loan that CLP India Private Limited contracted in 2009 with Industrial Development Bank of India (IDBI) to develop the 1320 MW Coal-Fired Jhajjar Power Plant.

SEPCO III and Shandong Tiejun Engineering Company Limited were the EPC contractors responsible for project implementation. Construction began in January 2009. Stage one of the project involved installing 660 MW capacity and that was commissioned March 2012. Stage two of the project involved installing 660 MW capacity and it was commissioned on July 19, 2012.