Neyveli Lignite Corporation (NLC), on 28 March 2012, signed an agreement with State Bank of India (SBI) for a rupee term loan for its Neyveli New Thermal Power Station (NNTPS) in Tamil Nadu.
The company has signed pact for Rs 2,500 crore for 2x500MW lignite based NNTPS. The power project was sanctioned by the Central Government at an estimated cost of Rs 5,907 crore. The project will be funded through debt and equity with the ratio of 70:30. The rupee term loan agreement will be utilised to fund the 70 per cent of debt requirement of the project.
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