Date:20/06/2008 URL: http://www.thehindu.com/2008/06/20/stories/2008062056271700.htm

Business

PFC to sanction loan to NTPC

Sujay Mehdudia

NEW DELHI: Power Finance Corporation and National Thermal power Corporation (NTPC) are learnt to have tied up a massive loan of Rs. 10,000 crore to finance various thermal and hydro power projects that are scheduled to be commissioned during the XI Plan.

Informed sources said that all the modalities for the loan had been worked and the parties were likely to sign a memorandum of understanding (MoU) in the next few days. The funds would be disbursed to NTPC in instalments. NTPC has set a target to generate around 50,000 MW by 2011-12 and has ventured into thermal and hydro power projects along with opening up avenues in the non-renewable energy sector.