NTPC inks loan agreements worth Rs 3,000 crore with banks

State-run power generator National Thermal Power Corporation (NTPC)on Tuesday said it has signed two term loan agreements worth Rs 3,000 crore with banks towards financing capital expenditure.

In a statement in the national capital, the power giant said it has signed a term loan agreement for Rs 2,000 crore with HDFC Bank and a similar agreement for Rs 1,000 crore with Syndicate Bank.

Both loan agreements have a door-to-door tenor of 15 years, that designates the total period within which the amount borrowed has to be repaid.

NTPC expects to spend Rs 22,400 crore capital in the current fiscal. It had spent Rs 21,705 crore on capital expenditure last year.

The company is currently generating 43,128 MW of electricity and has drawn up a long-term plan to generate 128,000 MW by 2032.