Dow Jones Newswires reported that TATA Steel has arranged a USD 6.6 billion loan from a banking consortium to fund construction of a factory in eastern India

Dow Jones, quoting an unnamed official, said that State Bank of India and private ICICI Bank are part of the consortium,

A TATA Steel spokesman, when contacted by AFP, declined to comment on the report.

The reported INR 350 billion (USD6.6 billion) loan comes as fundraising for infrastructure projects has slowed, with banks hesitant to provide money to companies amid delayed project approvals and a tougher economic climate.

Source - AFP

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