CIL Invites Bids for $147 MN Loan For 300 MW Solar Project

31 Jan 2025 CW Team

Coal India (CIL) has invited proposals from financial institutions for a loan of Rs 12.17 billion (~$147.05 million) to set up 300 MW ground-mounted solar power project at Gujarat Industries Power Company’s (GIPCL) solar park in Khavda, Gujarat.

Bids must be submitted by February 19, 2025. Bids will be opened on February 20. The loan must be approved within 45 days. The loan’s tenor must be 11 years, including one year of project construction and a 10-year repayment period. The debt must be disbursed progressively in a 80:20 ratio.

CIL will repay the loan in 40 equal quarterly installments. Bidders must be scheduled commercial banks, non-bank financing companies, or regulated financial institutions. Consortiums of commercial banks, NBFCs, or regulated financial institutions cannot participate.

CIL can draw a lesser amount than the loan tied-up amount based on the project requirements. It can draw partially or entirely, or even cancel the loan agreement without drawal after providing a 30-day intimation.

The credit can be secured against non-current assets, excluding the project land. In 2023, CIL participated in Gujarat Urja Vikas Nigam’s Phase-XXI tender for procuring power from 600 MW grid-connected solar power projects to be set up in GIPCL renewable park at Khavda (GIPCL stage 1).

CIL was awarded 300 MW at the tariff of Rs 2.55 (~$0.029)/kWh to supply the power for 25 years. It entered an “implementation and support” and “land lease” agreement with GIPCL, under which the latter received partial upfront development charges and corpus funds.

The project aims to deliver energy to the 220/400/765 kV substation of the central transmission utility (KPS 2) at the Khavda central transmission utility periphery through the 33/400 kV internal pooling substation of the solar park.

Infrastructure Urban

07 Oct 2025

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..