Tata Steel Odisha's Rs 22,800-crore loan is the largest project financing loan on record, according to a report by global deal tracking firm Dealogic.

 

Tata Steel on May 22 had said it had secured funding for the Odisha project and it recently got funding commitment from a consortium of 21 banks for Rs 22,800 crore. The new greenfield 6-million tonne steel plant at Kalinganagar is likely to be implemented in two phases of 3 mt each.

 

Meanwhile, the India project financing loan volume stood at $14.7 billion in 2013 so far this year up 13 per cent from $12.9 billion lent a year ago. In contrast, the Asia (excluding Japan) project finance loan volume stood at $19.9 billion in 2013 so far this year, down 30 percent on the $28.5 billion, which is lowest since 2007 when this stood at $11.4 billion.

 

State Bank of India lead the Asia (excluding Japan) syndicated loan book-runner ranking in 2013 so far this year with a 22.5 per cent market share, followed by Bank of China and StanChart with 7.6 per cent and 4.4 per cent shares, respectively