NTPC inks pact with J&K Bank for Rs 600 cr loan facility

NEW DELHI: Country's largest power producer NTPC has tied up borrowing facility worth Rs 600 crore with the Jammu & Kashmir Bank, making it the 100th term loan agreement for the company in the last 13 years.

State-run NTPC has been raising debt from Indian banks and financial institutions since November 1999 to meet capital expenditure needs.

In a statement today, NTPC said it has signed 100th term loan agreement for Rs 600 crore with the Jammu & Kashmir Bank on December 5.

"This loan has a door to door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC," it added.

Since November 1999, NTPC has signed loan agreements of Rs 57,629.35 crore. "Out of these, loan amounting to Rs 41,404.35 crore has already been drawn and utilised," the statement said.

Currently, the power producer has an installed capacity of 39,674 MW and over 16,000 MW capacity is under construction.