Investment30 Aug 2025, 04:21 pm
Deccan Gold Mines Ltd Avails Additional Debt Funding of Rs. 40 Crore from Godawari Power & Ispat Limited
AI Summary
Deccan Gold Mines Ltd has completed the documentation for availing additional debt funding of Rs. 40 Crore from Godawari Power & Ispat Limited. The loan will be utilized for investment into erection and early commissioning of Altyn Tor Gold Project in Kyrgyzstan and for general corporate purposes. There has also been a change in the utilization of funds for the previously availed loan of Rs. 30 crore from Godawari, due to project exigencies. The Lender and Borrower have agreed that funds up to a maximum of 75% have been / are being utilized for investment into the Altyn Tor Gold Project of our subsidiary company in Kyrgyzstan and the remaining funds have been / are being utilized for general corporate purposes.
Key Highlights
- Deccan Gold Mines Ltd avails additional debt funding of Rs. 40 Crore from Godawari Power & Ispat Limited
- Upto 90% of the loan will be utilized for investment into erection and early commissioning of Altyn Tor Gold Project in Kyrgyzstan
- Remaining amount will be utilized for general corporate purposes
- Change in utilization of previously availed loan of Rs. 30 crore from Godawari due to project exigencies
- 75% of the funds have been utilized for investment into the Altyn Tor Gold Project of the subsidiary company in Kyrgyzstan