The National Thermal Power Corporation (NTPC) is planning to borrow $100 million (about Rs 480 crore) abroad in the first half of 2003-04. It has already borrowed Rs 7,219 crore from domestic banks to part-finance its capacity-addition programme for the Tenth Plan.
The corporation will tap the foreign markets to keep the average interest rate on its borrowings at around 7 per cent. It has invited quotes from international banks, and is expecting a coupon rate of around 6 per cent for the proposed five-year loan.
