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Neyveli Lignite Corporation inks pact with SBI for rupee term loan

29 Mar 2012 Evaluate

Neyveli Lignite Corporation, an integrated mining cum power generating company has inked pact with SBI for a rupee term loan of Rs 2,500 crore for Neyveli New Thermal Power Station (NNTPS) (2x500MW). The company had signed the rupee term loan agreement to meet 70% of the debt requirement of the project.

Neyveli New Thermal Power Station is lignite based thermal power project sanctioned by government of India in June 2011. The project is a replacement of the existing 600 MW TPS I power plant which has served for about 50 years.

The funding of the project will be at debt equity ratio of 70:30. The equity part will be funded through internal accruals and the loan component will be funded through rupee term loan, external commercial borrowing, bonds and other form of debts.

Neyveli Lignite Share Price

307.80 7.30 (2.43%)
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