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NTPC signs Rs 6,608 crore loan agreement for 1,320 Mw power project in UP

To finance the capital expenditure of a 1,320 Mw power project in Uttar Pradesh

Press Trust of India  |  New Delhi 

NTPC signs Rs 6,608 crore loan agreement for 1,320 Mw power project in UP

National Thermal Power Corporation (NTPC) has formalised a for Rs 6,608 crore to finance capital expenditure of a 1,320 mw being set in Uttar Pradesh.

"Meja Utpadan Nigam Pvt... Signed a for Rs 6,608 crore to finance capital expenditure of the consisting of two units of 660 mw being set at Meja near Allahabad, Uttar Pradesh," said in a statement.


Meja Utpadan Nigam is a 50:50 JV between the country's largest power producer and Uttar Pradesh Rajya Vidyut Utpadan Nigam.

Taking advantage of falling interest yields, the deal was finalised between the two during a short span.

The proceeds will also be utilised partly to refinance costlier loan from a consortium of banks and financial institutions. To ease future cash flows, the loan offers extended repayment period, the company said.

The agreement was executed in the presence of CMD

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, July 28 2017. 20:05 IST
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