Mumbai: International Finance Corporation will consider a loan of up to $450 million (Rs 1,800 crore) and an equity investment of up to $ 50 million (Rs 200 crore) for Tata Power's Ultra Mega Power Project at Mundra in Gujarat, the institution's web site said.
IFC, the private investment arm of the World Bank, said this would be its first financing of a supercritical plant anywhere in the world.
Additionally, IFC and Coastal Gujarat Power Ltd (the subsidiary of TPC which will handle the project) are exploring the possibility of syndicating up to $300 million in loans, according to the IFC web site.
IFC will consider these proposed investments at its board meeting, tentatively scheduled for March 27 next year.
Tata Power has earlier mentioned IFC among the several multilateral institutions from which it is seeking loans for the project.
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