India's Reliance Power Gets $1B In Project Loans From China

Law360, Chicago (July 11, 2012, 8:58 PM EDT) -- India's Reliance Power Ltd. has shored up $1.1 billion in loans from Chinese banks for a coal-based power plant in central India, an Indian news outlet reported Wednesday.

English language Indian newspaper The Economic Times reported that Chinese government ministries have granted final approval to the financing commitments of Bank of China, China Development Bank and The Export Import Bank of China for Reliance's 3,960 megawatt Sasan Ultra Mega Power Project in the state of Madhya Pradesh.

"The transaction is a testimony of their confidence in...
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