MoU signed between OPTCL & NABARD for a strategic financial partnership. Project – financing by NABARD to any state PSU in Odisha.
A significant milestone was achieved with the signing of a Long-Term Loan Agreement by OPTCL with NABARD for the development of power infrastructure in Odisha. This strategic financial partnership aims to ensure quality and reliable power supply for upcoming industries as well as consumers across the state.
Under this agreement, NABARD has extended a loan of ₹1,685.27 crore to OPTCL at an attractive interest rate of 7.75% per annum. Of the total loan amount, ₹900 crore will be utilized for new transmission projects, while the remaining amount will be used for swapping existing high-cost loans. This initiative marks the first-ever project financing by NABARD to any State PSU in Odisha, making it a landmark development in the state’s power sector.
The ceremony was graced by Hon’ble Deputy Chief Minister Energy Kanak Vardhan Singh Deo and Bhaskar Jyoti Sarma, CMD, OPTCL who appreciated the collaborative efforts aimed at strengthening Odisha’s power infrastructure.
The agreement was formally exchanged between Shri S. K. Sahoo, Director (Finance), OPTCL and Shri V. K. Nag, General Manager, Odisha Regional Office, NABARD. Other functional Directors of OPTCL, senior officials of OPTCL & NABARD were also present on the occasion.
This partnership is expected to accelerate the function of critical transmission infrastructure and support the state’s growing, industrial and economic landscape.
News by Susree Sangita Maharana and Giridhari Lal Sarangi from Photo News Times.
