Bhubaneswar: A Long-Term Loan Agreement was signed Wednesday between NABARD and OPTCL 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 Rs 1,685.27 crore to OPTCL at an attractive interest rate of 7.75% per annum. Of the total loan amount, Rs 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 Deputy Chief Minister, Agriculture & Farmers’ Empowerment, Energy Kanak Vardhan Singh Deo and OPTCL CMD Bhaskar Jyoti Sarma.
The agreement was formally exchanged between S. K. Sahoo, Director (Finance), OPTCL and V. K. Nag, General Manager, Odisha Regional Office, NABARD.
