New Delhi, Dec. 22: NTPC Ltd, the countrys largest power producer, has signed a $380-million (about Rs 1,495 crore) loan agreement with the Japan Bank for International Co-operation (JBIC) to part-finance its 1,980MW Barh super thermal power project in Bihar. The loan is for the first stage of the project.
NTPC director (finance) A. K. Singhal signed the loan deal earlier this week in Tokyo.
The facility, which was arranged and guaranteed by the JBIC, has floating interest rate linked to the Libor and door-to-door maturity of 18 years. This is the first facility extended by the JBIC to NTPC without sovereign guarantee, it said.
The JBIC has previously provided financing for Gandhar, Simhadri, Faridabad and North Karanpura power projects for an aggregate amount of 172 billion Japanese yen through its overseas development assistance programme.
NTPC has an installed capacity of 28,644MW and generates about 28 per cent of the total power produced in the country.