 "NTPC signs loan agreements of Rs 1,870 crore with domestic banks")
Power generator NTPC Ltd said it has signed three loan agreements of Rs 1,870 crore with domestic banks to part finance its capital expenditure plans.
This includes a Rs 570 crore agreement with Punjab and Sind Bank, Rs 300 crore with Andhra Bank and a Rs 1,000 crore agreement with Canara Bank.
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The loans have been extended at the respective base rates of the bank, which is the bare minimum rate at which a bank can lend,” the company said in a statement. The loan agreements have a door-to-door tenure of 15 years.
The company has a current installed power generation capacity of 40,000 Megawatt (MW) and plans to ramp it up to 50,000 Mw by 2017.