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Drumbeat: Ad Buzzaar
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Wednesday, July 15, 1998
NTPC seeks nod for $ 1.2 bn ECB
AGENCIES
NEW DELHI, July 14: National Thermal Power Corporation (NTPC) has sought government approval for raising USD 1.2 billion through the External Commercial Borrowing (ECB) route to finance three of its major power projects in Orissa, Madhya Pradesh and Kerala.The state-owned corporation wants to mobilise funds through the ECB route to fund expansion schemes at Talcher, Vindyachal and Kayankulam power project during the ninth plan period, NTPC chairman and managing director Rajendra Singh said. NTPC is yet to receive a commitment for the Rs 3000 crore loan it has sought for upscaling its Talcher power project to 2000 mw during the tenth plan period. NTPC needs to raise about $ 800 million to $ 1 billion for the Talcher power project. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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