NTPC ties up 95 m euro loan facility with KfW

June 28, 2013 03:03 pm | Updated November 16, 2021 10:30 pm IST - New Delhi

A.K. Singhal, Director, Finance, NTPC. Photo: Kamal Narang

A.K. Singhal, Director, Finance, NTPC. Photo: Kamal Narang

State—run power producer National Thermal Power Corporation (NTPC) has tied up with German entity KfW for a fixed interest term loan facility of 95 million euros (about Rs 738 crore).

The loan facility would be utilised to part finance the capital expenditure on renovation and retrofitting of Electro Static Precipitators at various generation stations of NTPC to reduce fly ash emissions.

In a statement, NTPC said the term loan facility of 95 million euros would have a fixed interest.

“The facility has a door to door maturity of 12 years including grace period of 4 years. The loan shall be repaid in 16 equal semi annual instalments. KfW has in the past also provided financial cooperation to support the company’s renovation and modernisation and expansion schemes,” it added.

NTPC Director (Finance) A.K. Singhal said the agreement reinforces the strong and long standing relationship between the company and KfW.

“It is indeed a great honour that KfW and the German government recognise NTPC. It very well reflects the strong credit quality and governance systems of the company,” he noted.

KfW is Germany’s leading development bank.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.