Power Mech issues corporate guarantee on behalf of subsidiary

Power Mech Projects has issued a Corporate Guarantee on behalf of its subsidiary, Kalyaneswari Tasra Mining (KTMPL).

The said Corporate Guarantee, for an amount not exceeding Rs. 469 crore, has been issued in favour of CTL Trusteeship (acting as the Security Trustee) to secure the financing facilities availed by KTMPL towards project Capex (Coal Handling Plant, Railway siding, and R&R Colony Construction).

The underlying credit facilities comprise loans from RBL Bank (Rs. 175 crore) and IDFC First Bank (Rs. 294 crore)