NTPC gets Rs 2,341-cr loan for 390-Mw power plant

State-run NTPC today said it has tied up a syndicated loan worth Rs 2,341 crore from a consortium of Indian banks for its 390-MW Muzaffarpur thermal power project in Bihar.

NTPC Kanti Bijlee Utpadan Nigam Limited, a subsidiary of NTPC Limited, has achieved financial closure on its Muzaffarpur thermal power project, consisting of two units of 195 MW each, an official statement today said.

A loan agreement for Rs 2,341 crore was signed with a consortium of four banks, led by State Bank of India.

State Bank of India, Canara Bank, India Infrastructure Finance Company Ltd (IIFCL) and United Bank of India are the members of the consortium.

The loan would be utilised for financing capital expenditure on the Muzaffarpur thermal power project.

NTPC, which has an installed power generation capacity of over 34,000 MW, plans to scale up this capacity to a whopping 1,28,000 MW by 2032.

It is currently working on projects with a cumulative capacity of 40,000 MW, of which 14,000 MW is in various stages of implementation.

It added that capacity of about 2,500 MW will be commissioned during 2010-11, including the Dadri (490 MW), Korba (500 MW), Farakka (500 MW), Simhadri (500 MW) and Jhajjar (500 MW) units.

The company has mobilised loans worth Rs 10,000 crore from State Bank of India this fiscal (2011-12). It has also secured a USD 300 million loan from Bank of Tokyo-Mitsubishi UFJ Ltd, Singapore.