Date:14/08/2008 URL: http://www.thehindubusinessline.com/2008/08/14/stories/2008081452480300.htm

Back Clarification

With reference to the report on Chennai desalination project, published in these columns on August 8, Chennai Water Desalination Ltd has clarified that DEG, Germany, is not funding any cost escalation but is coming in only as one more lender to the project. The German funding agency is replacing IVRCL’s (parent company) sponsor loan of Rs 78 crore which was an interim arrangement.