Exim Bank of India lends $ 35.26 million to Kalpataru Power for Senegal power project

The Export Import (Exim) Bank of India on Monday said it has extended a $ 35.26 million loan for a power transmission project being executed by Kalpataru Power Transmission in Senegal. The buyer’s credit facility was extended under the National Export Insurance Account (NEIA) scheme, which provides a safe mode of financing option to Indian project exporters backed by cover from NEIA Trust, as per an official statement.

The bank signed a credit agreement with the Ministry of Economy, Planning and Co-operation of the Republic of Senegal for the purpose of construction and installation of 225 kV overhead transmission line from Tanaff to Ziguinchor (approximate distance 92 km) and bay extensions in Tanaff and Ziguinchor in Senegal, it said.

The project will enable securing energy supply in the southern region of Senegal, comprising of Tambacounda, Ziguinchor and Tanaff, and reduce operating expenses and the cost per kWh, the statement added.  The bank said it had earlier supported the construction of a 225kV transmission line for Tambacounda – Kolda – Ziguinchor link in Senegal by way of a Buyer’s Credit facility of $ 200 million under the same scheme.

Kalpataru Power Transmission Limited (KPTL) is amongst the leading Engineering, Procurement, and Construction (EPC) companies with proven experience and expertise spanning over three decades. It is part of the Kalpataru Group established in 1969.

KPTL is executing marquee projects with comprehensive capabilities that delivers complete solutions covering design, testing, fabrication, erection and construction of transmission lines, oil and gas infrastructure and railways projects on a turnkey basis. KPTL has established its footprints in 55 countries spread across five continents. The Company has an annual production capacity of over 180,000 MT of transmission towers at its state-of-the-art manufacturing facilities in India and an ultra-modern tower testing facility, making it amongst the largest power transmission EPC Company globally. KPTL The wide reach and presence of KPTL’s T&D business includes international geographies like Africa, CIS countries, the Middle East, SAARC, Asia-Pacific, Europe and America.

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