Bhubaneswar, Dec. 10 -- Odisha Power Transmission Corporation Limited (OPTCL) on Wednesday signed a Long-Term Loan Agreement with NABARD to strengthen power infrastructure across the state.
The agreement has been hailed as a significant milestone in Odisha's power sector, marking the beginning of a strategic financial partnership aimed at ensuring reliable and quality power supply for upcoming industries and consumers.
Under the agreement, NABARD will provide a loan of Rs.1,685.27 crore to OPTCL at an interest rate of 7.75% per annum.
Of this amount, Rs.900 crore will be allocated for new transmission projects, while the remaining funds will be used to swap existing high-cost loans, thereby reducing financial burden on the utility.
This...