DP World, a global port operator, has approached India's government-backed infrastructure bank and Axis Bank, a National Stock Exchange-listed institution, for a loan amounting to US$422.23 million to fund the construction of a terminal in Gujarat, reports Dubai's ZAWYA.
The terminal, with a capacity of 2.19 million TEU, is being constructed at Tuna Tekra within Deendayal Port in Gujarat.
The National Bank for Financing Infrastructure and Development (NaBFID) and Axis Bank are set to provide a term loan facility.
Additionally, according to sources cited in the report, Axis Bank has sanctioned a guaranteed facility and a hedging facility, facilitating dp World's financial closure for the project.
'DP World has received confirmation from NaBFID and Axis Bank to fund the project,' said Ministry of Ports official.
'DP World will be signing the loan agreement with the banks soon.'
SeaNews Turkey
The terminal, with a capacity of 2.19 million TEU, is being constructed at Tuna Tekra within Deendayal Port in Gujarat.
The National Bank for Financing Infrastructure and Development (NaBFID) and Axis Bank are set to provide a term loan facility.
Additionally, according to sources cited in the report, Axis Bank has sanctioned a guaranteed facility and a hedging facility, facilitating dp World's financial closure for the project.
'DP World has received confirmation from NaBFID and Axis Bank to fund the project,' said Ministry of Ports official.
'DP World will be signing the loan agreement with the banks soon.'
SeaNews Turkey
