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Business Economy


NTPC ties up JPY 50 billion funding from JBIC

NTPC ties up JPY 50 billion funding from JBIC

Kolkata, Oct 28 (UNI) In the first funding for NTPC Ltd under Japan Bank for International

Co-operation (JBIC)’s GREEN or Global Action for Reconciling Economic growth and

Environment preservation initiative, India’s largest power producer today entered into

foreign currency loan agreement with Japanese Government’s financial institution for

JPY 50 billion (approx. USD 482 million or Rs. 3,582 crore).

JBIC will provide 60% of the facility amount and the balance will be given by commercial

banks (viz., Sumitomo Mitsui Banking Corporation, the Bank of Yokohama Ltd., the

San-In Godo Bank Ltd., the Joyo Bank Ltd. and The Nanto Bank Ltd.), under JBIC

guarantee.

The facility is extended under JBIC’s outreach for projects, which ensure conservation

of global environment. The loan proceeds shall be utilized by NTPC for funding its capex

for Flue Gas Desulphurization (FGD) & Renewable Energy projects. FGD, substantially

reduces the SOx emission in the flue gases of thermal power plants and is a critical step

towards environmental sustainability.

The loan agreement was signed by Anil Kumar Gautam, Director (Finance), NTPC

and Tanimoto Masayuki, Managing Executive Officer, Global Head of Infrastructure

& Environment Finance Group, JBIC through video conferencing.

UNI BM SJC

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