×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

NTPC secures $300 mn loan from Singapore bank

NTPC secures $300 mn loan from Singapore bank
PTI
Comment E-mail Print Share
First Published: Wed, Dec 01 2010. 12 36 PM IST
Updated: Wed, Dec 01 2010. 12 36 PM IST
New Delhi: Country’s largest power producer NTPC has tied up with a Singapore-based bank for a $300 million loan for funding its financial plans in this fiscal, a senior company official said on Wednesday.
“It is $300 million loan with a Singapore bank—I cannot tell you the name right now—for funding our project in the current financial year,” NTPC director finance AK Singhaltold reporters here.
The loan is for seven-year period, Singhal added.
“We need to seek Reserve Bank approval for this loan and after that we would immediately start drawing,” he said.
Singhal also noted that the company was already committed for Rs 26,000 crore worth of loan from the domestic banks which, it has not drawn yet.
Comment E-mail Print Share
First Published: Wed, Dec 01 2010. 12 36 PM IST
More Topics: NTPC | Singapore | Bank | Loan | RBI |