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This is an archive article published on April 12, 1998

$ 150 m fund for plant face-lift

HYDERABAD, April 11: The Industrial Development Bank of India (IDBI) has proposed to fund to the tune of US $ 150 million in association wit...

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HYDERABAD, April 11: The Industrial Development Bank of India (IDBI) has proposed to fund to the tune of US $ 150 million in association with Asian Development Bank (ADB) to implement the modernisation and upgradation programme of the existing plants to enhance the productivity through energy efficient methods.

According to P V Narasimham, executive director of IDBI, the bank has identified five major industries — fertilisers, cement, sugar, metals, and textiles — for providing financial assistance to specific projects for their energy efficiency and related environmental improvement projects.

As of now, IDBI has sanctioned about US $ 146 million worth of proposals from the companies.

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