SBI Extends Rs 110 Crore Loan to AMSL for Telangana Project Expansion
SBI Extends Rs 110 Crore Loan to AMSL for Telangana Project Expansion

Hyderabad: AMSL, a provider of infrastructure solutions, has received a significant boost for its upcoming project in Hyderabad. The State Bank of India (SBI) has approved a loan of Rs 110 crore to AMSL for its new venture in Telangana.

AMSL, also known as Apollo Micro Systems Ltd, revealed its intentions to establish a manufacturing facility in Telangana with an investment of Rs 210 crore for producing defense-related items.

Confirming the development, AMSL stated, "We are pleased to announce that State Bank of India (SBI) has granted us a term loan of Rs 110 crore. This financial support from SBI is earmarked for setting up the Integrated Plant for Ingenious Defence Systems (IPiDS) at Hardware Park."

Apart from the loan, SBI has extended and increased other credit facilities for a period of 12 months until February 8, 2025.

The cash credit limit has been renewed and raised to Rs 57.50 crore from the previous Rs 52.50 crore, while the inland bank guarantee limit has been increased to Rs 50 crore from Rs 40 crore. Furthermore, the inland letter of credit (ILC) limit has been renewed to Rs 35 crore.

AMSL, headquartered in Hyderabad, specializes in technology-driven solutions across various sectors including infrastructure, transportation, and aerospace.

Earlier, AMSL took a strategic step by establishing a wholly-owned subsidiary named Apollo Defence Industries Private Ltd, aiming to advance its defense equipment manufacturing plans.

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