NTPC plans to raise $750 million overseas
By ENS Economic Bureau - NEW DELHI
22nd September 2012 10:00 AM
Power producer NTPC Limited on Friday said it plans to raise up to $750 million through a mix of bonds issue and syndicated loans from overseas markets. “We plan to raise $500 million to $750 million through bonds issue and if we are unable to raise up to $750 million through bonds issue we would raise $250 million through syndicated loans,” said Arup Roy Choudhury, CMD, NTPC.
Sounding confident of raising the funds in the current financial year, Choudhury said he is awaiting some clarification from the Finance Ministry related to withholding tax issue. Targeting a capacity addition of 4,160 MW in 2012-13 fiscal, NTPC has already achieved 50 per cent or 2,100 MW of the target.
Faced with acute coal shortages, the government-owned company has generated nearly two billion units of electricity less so far this fiscal. However, he emphasised it would not have any impact on the company’s financials. On government’s plan to divest about 9.5 per cent stake in the company, Choudhury said he is yet to hear from the government on it.
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