JNPT raises $400 million loan that is dollar-denominated other ports may follow suit

JNPT raises $400 million loan that is dollar-denominated other ports may follow suit

JNPT raises $400 million loan that is dollar-denominated other ports may follow suit

MUMBAI: The country’s largest container handling port Jawaharlal Nehru Port Trust has signed an understanding to improve a dollar-denominated loan of $400 million, or just around Rs 2,660 crore, at near to a tenth of prevailing domestic borrowing prices.

This is basically the first loan that is dollar-denominated JNPT this is certainly also called Nhava Sheva.

“The contract ended up being signed yesterday. The mortgage is raised at 2.36per cent price when compared with 12% that is the prevailing domestic rate,” delivery minister Nitin Gadkari told ET during the ongoing Maritime Asia Summit right here on Friday.

“This ended up being my brainchild. ICICI Bank had been lending at 12percent. We stated why? Raise dollar loans. Now viability regarding the task defintely won’t be a nagging problem,” the minister stated. Czytaj więcej about JNPT raises $400 million loan that is dollar-denominated other ports may follow suit