NTPC to receive Rs 10,000-crore loan from SBI: The Highest loan ever by SBI
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tate-run power producer NTPC today said it had signed a loan agreement of Rs 10,000 crore with State Bank of India for financing its new as well as ongoing projects. The loan amount would be the largest extended by SBI to any Indian or foreign company. For the current financial year, NTPC has earmarked an investment of Rs 26,400 crore. “The rupee-term loan has a door-to-door maturity of 12 years with a drawdown period of four years,” it said in a statement. In the previous financial year, the company’s capital expenditure jumped 22 per cent to Rs 12,817.6 crore. In 2009-10, the figure was Rs 10,467 crore. The power major had floated a tender recently for importing 4 million tonnes of coal directly, to overcome the shortage of domestic supply of coal. The company has always given order for import of coal to state-run firms MMTC and STC. In the current financial year, it plans to import 16 million tonnes of coal. Out of this, 12 million tonnes have already been arranged by STC and the remaining amount will be done directly. NTPC is also looking at buying stakes in two coal mines in Indonesia, which will ensure that it meets its demand for power projects. Apart from this, it plans to acquire coal blocks in Queensland and North South Wales, Australia. (BS)
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