NTPC inks 8,500-cr loan pact

New Delhi, May 14
State-run power producer NTPC today said it has signed a loan agreement with State Bank of India for Rs 8,500 crore, which will be used for funding a basket of projects in pipeline.

The loan facility for NTPC to be provided by the SBI would have a tenure of 10 years and the interest rate is linked to State Bank Advance Rate. The loan shall be drawn over a period of three years and shall be used for a basket of NTPC projects in pipeline. NTPC's approved outlay for 2009-10 for capital schemes is Rs 17,700 crore. Apart from the above said amount, NTPC's joint ventures and subsidiaries are expected to incur capital expenditure of about Rs 6,825 crore in this fiscal. — PTI