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NHPC signs ECB agreement

NEW DELHI: The National Hydroelectric Power Corporation (NHPC) on Thursday signed a financing agreement for external commercial borrowing in Japanese yen equivalent to $50 million (Rs. 225 crores) with a syndicate of nine international banks including Barclays Bank, Standard Chartered, Emirates Bank Group and State Bank of India.

According to the NHPC Chairman-cum-Managing Director, Yogendra Prasad, said the 10-year financing with "put and call" option at the end of five years was at a competitive rate, adding that the corporation had embarked on a massive capacity addition for developing of more than 20,000 MW of power in the 10th and 11th Plan periods.

Our Staff Reporter

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