DVC achieves financial closure for Koderma thermal power plant

New Delhi: Damodar Valley Corporation (DVC) has entered into a loan agreement amounting to Rs 10,050.42 crores with State Bank of India (SBI) on September 11 for implementation of 2X800 MW Koderma Thermal Power Project (Phase-II), in Jharkhand. The total project cost of this 2x800 MW thermal power project stands at Rs 14357.74 crore.

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The loan agreement supports the financing requirements for the development of DVC's 2x800 MW thermal power plant in Koderma, Jharkhand. This project, with a total capacity of 1600 MW, is a significant initiative aimed at boosting power generation capacity in the region and promoting the area's integrated socio-economic development. It is pertinent to mention that DVC has an existing 2x500 MW thermal power plant in Koderma, Jharkhand. This plant has been a significant contributor to the region's power supply, providing substantial electricity to meet local and regional demands.

Such a large project typically involves substantial investments and collaboration with financial institutions to secure funding. The agreement between DVC and SBI would cover aspects such as loan arrangements, financial terms, and other conditions necessary to support the construction and operation of the power plant.

The agreement ceremony took place at SBI Corporate Office, Mumbai in the presence of Arup Sarkar, Member (Finance); Joydeep Mukherjee, ED (Finance) and Durgesh Maiti, CGM (Finance) from Damodar Valley Corporation, Ashwini Kumar Tewari, Managing Director (Corporate Banking & Subsidiaries), Gulshan Malik, DMD (Corporate Client Group); Shailesh Unnithan CGM (PF&SSBU); Vaka Srinivasulu Reddy, General Manager (CCG Regional Office East); Mohan KV, Deputy General Manager CCG Branch Kolkata; Annwesha Banerjee, Relationship Manager from SBI.

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