REC to fund project via 2-step loan from China

This is the first time that a project will be financed by Chinese banks through a two-step export credit agency (ECA) funding in India.

"We have got approval from the risk committee to fund the KSK Mahanadi Power project in Chhattisgarh. Chinese banks along with Sinosure will lend $343 million for the project," said Chairman and managing director H D Khunteta.

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