Bhubaneswar: A significant milestone was achieved today with the signing of a Long-Term Loan Agreement between OPTCL and NABARD for the development of power infrastructure in Odisha. This strategic financial partnership aims to ensure a reliable and high-quality power supply for upcoming industries as well as consumers across the state.
Under the 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 funds will be used to swap 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, Minister for Agriculture & Farmers’ Empowerment and Energy, Kanak Vardhan Singh Deo, along with Bhaskar Jyoti Sarma, CMD of OPTCL, who appreciated the collaborative efforts aimed at strengthening Odisha’s power infrastructure.
The agreement was formally exchanged between S. K. Sahoo, Director (Finance), OPTCL, and V. K. Nag, General Manager, Odisha Regional Office, NABARD. Other functional directors of OPTCL and senior officials from both OPTCL and NABARD were also present on the occasion.
This partnership is expected to accelerate the execution of critical transmission infrastructure and support the state’s growing industrial and economic landscape.
