Companies

NTPC ties up $430 mn funding from JBIC

Siddhartha P Saikia New Delhi | Updated on January 27, 2014

NTPC on Monday said it has tied up foreign currency loans for $430 million (nearly ₹2,650 crore) for its Kudgi and Auraiya projects. The two separate loans have been granted by Japan Bank for International Co-operation (JBIC), the Japanese Government policy-based financial institution.

The public sector power producer signed a term loan of $350 million with the JBIC to finance the supplies and services from Japan as well as India for the first stage of 2,400 MW Kudgi Super Thermal Power Project Stage-I (3x800 MW) located in Karnataka.        

The second loan for remaining amount, signed with the JBIC, is for renovation and modernisation of gas turbines at NTPC’s Auraiya gas power station.   

“In both the loans, 60 per cent of the facility amount is provided by JBIC and the balance by commercial banks under Nippon Export and Investment Insurance (NEXI) guarantee. The loans are provided on a stand alone basis without any sovereign guarantee reflecting the company’s strong credit quality,” NTPC said in a statement.

 

Published on January 27, 2014

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