Approval of projects

IIFC (UK)’s business operations effectively commenced from September 2008. In this short span, the Company has created a niche for itself in the financial market and infrastructure sector. A cumulative number of 52 proposals for aggregate loan request of over USD 6 billion were received up to September 2010, of which 17 proposals, after net of cancellations, with an aggregate loan of USD 1.947 billion had been approved. Financing documents had been executed in 6 cases with aggregate loan sanction of USD 946 million. Disbursement of loans commenced in August 2009 and aggregated USD 133.445 million as at the end of September 2010. The funding for import of capital equipment generally gets effected, upon substantial completion of civil construction work at the project site.

During the first half of FY 2010-11, the company has approved, amongst others, a new project of Gas Pipelines. The total cost of the projects assisted by IIFC (UK) Limited (in syndication with other banks/FIs) in the Power, Metro Rail, Port and Gas Pipeline sectors was over USD 23 billion. These projects shall create additional capacity of 20250MW of power generation, 40 kilometers of Metro Rail in Delhi, Mumbai and Gurgaon, 15MT of port cargo handling per annum and 23 Kilometers of gas pipelines in the country, as per the details given below: