Country’s largest power producer National Thermal Power Corporation (NTPC) on Friday said it has inked a Rs 10,000 crore (over USD 2 billion) loan agreement with State Bank of India for financing its projects.
The loan amount would be the largest extended by SBI to any Indian or foreign corporate.
NTPC said the loan would be utilised for financing capital expenditure of its ongoing and new projects.
“The rupee term loan has a door-to-door maturity of 12 years with a drawdown period of four years,” NTPC said in a statement.
The pact for the loan was signed by NTPC CMD Arup Roy Choudhury and SBI Chairman Pratip Chaudhuri on Thursday.
“This is the single largest loan extended by State Bank of India to any corporate entity in India and abroad. For NTPC also, this is the single largest loan extended by any commercial bank,” it said.
NTPC, which has a total installed capacity of 34,584 MW, plans to add 1,28,000 MW by 2032.
For 2011-12, the state-run thermal power major has an outlay of Rs 26,400 crore for capital schemes.
Last fiscal, the company’s capital expenditure jumped over 22 per cent to Rs 12,817.61 crore. In 2009-10, the same stood at Rs 10,467.13 crore.
NTPC Group’s capital expenditure rose 14 per cent to Rs 16,326.58 crore in the previous fiscal. The amount was Rs 14,334.54 crore in 2009-10.
