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Infrastructure solutions provider AMSL revealed that the State Bank of India (SBI) has sanctioned a loan of ₹110 crores for the company's upcoming project in Hyderabad, Telangana. This announcement follows AMSL's recent declaration of plans to establish a facility in Telangana, involving an investment of ₹210 crore to manufacture defence products.
AMSL stated, "The company has received sanction for a term loan of ₹110 crore from the State Bank of India (SBI) to implement our upcoming project in Hardware Park. This funding is allocated towards establishing the Integrated Plant for Ingenious Defence Systems (IPiDS)."
In addition to the term loan, SBI has also approved the renewal and enhancement of other credit facilities for 12 months up to February 8, 2025.
The cash credit limit has been renewed and increased to ₹57.50 crore from the existing limit of ₹52.50 crore, while the inland bank guarantee limit has been raised to ₹50 crore from the current ₹40 crore. Additionally, another inland letter of credit (ILC) limit has been renewed to ₹35 crore.
AMSL, headquartered in Hyderabad, offers technology-based solutions across various sectors, including infrastructure, transportation, and aerospace.
Last year, AMSL took a significant step forward by incorporating a wholly-owned subsidiary, Apollo Defence Industries Private Ltd, to advance its plans for manufacturing defence equipment, reflecting its commitment to the defence sector's growth and development.
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