NTPC inks Rs 8,500 cr loan pack with SBI

State-run power producer NTPC today said it had signed a loan agreement with the State Bank of India for Rs 8,500 crore, which would be used for funding a basket of projects.

The loan facility for NTPC to be provided by the State Bank of India would have a tenure of 10 years and the interest rate is linked to SBAR (State Bank Advance Rate), a company statement said.

The loan shall be drawn over a period of three years and shall be used for a basket of NTPC projects in pipeline. NTPC’s approved outlay for 2009-10 for capital schemes is Rs 17,700 crore. Apart from the above said amount, NTPC’s joint ventures and subsidiaries are expected to incur capital expenditure of about Rs 6,825 crore in this fiscal.

Tata Power moves SC on Sasan coal
Tata Power today moved the Supreme Court challenging the government decision that allowed Reliance Power to divert surplus coal from the Sasan power project. A Bench headed by Chief Justice KG Balakrishnan refused to give any interim relief to Tata Power.