Adani Transmission plans to raise $1.15 bn to finance projects

18 May 2021 CW Team

Sources told the media that the four banks, including Standard Chartered, Mitsubishi UFJ Financial Group (MUFG), Barclays bank Ltd, and JPMorgan Chase and Corporation, are expected to syndicate the proposed loans.

Further, they added that the company is working on a dedicated structure through which the total sum will be raised for those four projects.

The four projects include the Western Region Strengthening Scheme (WRSS), Lakadia Banaskantha Transco (LBTL), Kharghar Vikhroli Transmission (KVTL), and the Mumbai High Voltage Direct Current (HVDC) project.

Total project value is about $1.55 billion, with the HVDC project constituting approximately one-third of that. The loan could primarily be for five years and valued after adding a spread, or mark-up, to the London Interbank Offered Rate (LIBOR).

The spread will be finalised after factoring in project execution and refinancing risks of the lenders, who are cautious regarding the economic value of Covid-19.

A senior executive said that the proceeds will fund the first three projects fully and the fourth project partially. The Ahmedabad-based company is, though, expected to refinance the loan after 12-15 months by long-term overseas bonds.

Adani Transmission will initially raise about $700 million from a group of foreign lenders, who will later extend another $450 million credit line to HVDC, which has a deadline of January 2025.

The second leg of the credit line may happen at the time of refinancing the following year, for which a deal is being finalised presently. One-fourth of the entire project value will be infused through equity by Adani’s promoters.

In the past year, Adani Transmission shares have risen around six times on the Bombay Stock Exchange (BSE).

Image Source

Also read: PowerGrid hands over nine ICU ventilators to the tune of Rs 1.14 cr

Also read: Ramco Cements sets up medical oxygen plant in Tamil Nadu

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Power transmission major Adani Transmission Ltd plans to raise $1.15 billion through offshore loans to fund at least four projects in Gujarat and Maharashtra to support the economy amid the second wave of Covid-19. Sources told the media that the four banks, including Standard Chartered, Mitsubishi UFJ Financial Group (MUFG), Barclays bank Ltd, and JPMorgan Chase and Corporation, are expected to syndicate the proposed loans. Further, they added that the company is working on a dedicated structure through which the total sum will be raised for those four projects. The four projects include the Western Region Strengthening Scheme (WRSS), Lakadia Banaskantha Transco (LBTL), Kharghar Vikhroli Transmission (KVTL), and the Mumbai High Voltage Direct Current (HVDC) project. Total project value is about $1.55 billion, with the HVDC project constituting approximately one-third of that. The loan could primarily be for five years and valued after adding a spread, or mark-up, to the London Interbank Offered Rate (LIBOR). The spread will be finalised after factoring in project execution and refinancing risks of the lenders, who are cautious regarding the economic value of Covid-19. A senior executive said that the proceeds will fund the first three projects fully and the fourth project partially. The Ahmedabad-based company is, though, expected to refinance the loan after 12-15 months by long-term overseas bonds. Adani Transmission will initially raise about $700 million from a group of foreign lenders, who will later extend another $450 million credit line to HVDC, which has a deadline of January 2025. The second leg of the credit line may happen at the time of refinancing the following year, for which a deal is being finalised presently. One-fourth of the entire project value will be infused through equity by Adani’s promoters. In the past year, Adani Transmission shares have risen around six times on the Bombay Stock Exchange (BSE). Image Source Also read: PowerGrid hands over nine ICU ventilators to the tune of Rs 1.14 cr Also read: Ramco Cements sets up medical oxygen plant in Tamil Nadu

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Infrastructure Transport

05 Sep 2025

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Infrastructure Transport

05 Sep 2025

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..