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NTPC in jt venture with UP utility

Coimbatore, Feb. 28

NTPC has informed that a joint venture agreement has been executed between the company and UPRVUNL, on Thursday, for implementation of 2x660 MW coal-based thermal power project at Meja in District Allahabad of Uttar Pradesh. The project shall be implemented by the proposed joint venture company having equal equity participation on build, own and operate basis.

In another notification, the company said it has signed a loan agreement of ?68.56 million with Nordic Investment Bank (NIB), a multilateral financial institution owned by the Nordic and Baltic countries, to part finance the capital expenditure of its projects. The loan has a maturity of 12 years including availability period of 3 years and carries a floating rate of interest linked to EURIBOR and is without sovereign guarantee. This is the first loan that NTPC has tied up with NIB. - Our Bureau

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