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.
Also Read
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.