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The lawmaker noted that the terms of the $53.9 million loan agreement was on 75 per cent shareholding by the state government and 25 per cent by Public Private Partnership.
“The loan was initially taken as a private-sector loan at an interest rate of 4.2 per cent but that it was renegotiated to 1.2 per cent interest rate as a public sector loan. thus requiring approval of of the state House of Assembly.
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