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India Rel Power completes funding for power plant

Tue Jul 14, 2009 3:48am EDT

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MUMBAI, July 14 (Reuters) - India's Reliance Power (RPOL.BO) said on Tuesday it has finalised funding for its 1,200 megawatt Rosa power project in northern state of Uttar Pradesh, and hopes to start generating power this year.

State-run IDBI Bank (IDBI.BO) was the lead arranger of the loan for the expansion stage of project, with financing also coming from state-run Life Insurance Corp and 13 other banks, the private utility said in a statement.

The company did not provide further details on the funding.

It said construction of stage 1 of the Rosa project was very advanced and power generation was expected to start this year. The Rosa project is expected to be fully operational by the end of March 2012, and will supply 900 megawatts of power to Uttar Pradesh Power Corp Ltd. (Reporting by Ami Shah; Editing by John Mair)



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