NTPC ties up Rs 500-cr capex loan with Mizuho Bank

To part finance its capex, the country's largest power producer NTPC has tied up a loan of $100 million with the Japanese Mizuho Corporate Bank.

NTPC has signed a loan facility of $100 million (about Rs 500 crore) with Mizuho Corporate Bank on March 16, the company informed BSE.

The loan will be spent on capital expenditure for the company's ongoing as well as new projects, NTPC said. It would also be utilised for financing coal mining projects and renovation and modernisation of power stations.

NTPC is planning to invest Rs 24,000 crore on setting up a thermal plant of 4,000 MW at Vishakhapatnam, in Andhra Pradesh. The state government will facilitate land availability and coal linkage for the project.

NTPC operates plants with over 36,000 MW of capacity from all sources of energy, and has plans to enhance the capacity to about 70,000 MW by March 2017.