You are here: Home » Companies » News
Business Standard

NTPC ties up 50 bn yen funding under Japan Bank's GREEN initiative

In the first funding for NTPC under JBIC's GREEN or Global Action for Reconciling Economic growth and Environment preservation initiative

Topics
NTPC

IANS  |  New Delhi 

NTPC
NTPC

In the first funding for Ltd under Japan Bank for International Co-operation (JBIC)'s GREEN or Global Action for Reconciling Economic growth and Environment preservation initiative, India's largest power producer on Wednesday entered into foreign currency loan agreement with Japanese financial institution for JPY 50 billion (approx $ 482 million/Rs 3,582 crore).

JBIC will provide 60 per cent of the facility amount and the balance will be given by commercial banks (viz., Sumitomo Mitsui Banking Corporation, the Bank of Yokohama Ltd, the San-In Godo Bank Ltd, the Joyo Bank Ltd, and The Nanto Bank Ltd), under the JBIC's guarantee.

The facility is extended under JBIC's outreach for projects, which ensure conservation of global environment.

The loan proceeds will be utilized by for funding its capex for Flue Gas Desulphurisation (FGD) & renewable rnergy projects. FGD substantially reduces the SOx emission in the flue gases of thermal power plants and is a critical step towards environmental sustainability.

The loan agreement was signed by Anil Kumar Gautam, Director (Finance), and Tanimoto Masayuki, Managing Executive Officer, Global Head of Infrastructure & Environment Finance Group, JBIC through video conferencing.

--IANS

sn/vd

(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.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, October 28 2020. 19:15 IST
RECOMMENDED FOR YOU
.