Saarc Net is setting up Wind Power Project

Thebullishtrends: Saarc Net shares are trading at Rs.4.13(+4.82%). Saarc Net Ltd is setting up its 9 MW Wind Power Project in the state of Tamil Nadu. The estimated cost of project is Rs 48.60 crores out of which Rs 34.02 crores will be subscribed through Term Loan by PFC and its associates, Rs 14.58 crores will be subscribed by issue of Equity Shares to Promoter's and it's associates. The Power Finance Corporation Ltd has already sanctioned In Principal approval of Term loan to the Tune of Rs 19.44 Crores and further they are syndicating the balance Loan amount Rs 14.58 Crores. The project in likely to be implemented by August, 2008.