GMR Energy has secured $820 million in funding for its 800 Mw combined cycle power plant in Singapore, Business Standard reports. The energy unit of GMR Infrastructure has raised $550 million as a term loan and a $270 million line of credit for a period of 17 years. Axis Bank, CIMB Bank, KfW IPEX- Bank, National Australia Bank, Standard Chartered Bank and WestLB served as lead managers for the transaction. GMR’s subsidiary, Island Power, is developing the power project on Singapore’s Jurong Island.
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