by admin | May 25, 2021 | Business, Emerging Businesses, Investing, Medium Enterprise, SMEs
New Delhi : State-run power generator NTPC on Tuesday said it has listed its $6 billion (Rs 40,000 crore) medium-term note (MTN) programme on the India International Exchange (India INX) at IFSC, GIFT City.
With this listing, the NTPC — formerly known as National Thermal Power Corporation Limited — became the country’s first quasi-sovereign company to list at India INX, the company said in a statement here.
“The listing will help the NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper,” it said.
The listing was done on January 24 on the Global Securities Market (GSM) of India INX, India’s first international exchange.
The GSM, which went live on December 8 last, allows for raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.
“Now, for the first time in India, we have the opportunity to reach out to international investors to raise funds using a wide variety of products and currencies, in a similar manner, as available in other international markets,” NTPC Chairman and Managing Director Gurdeep Singh said in a statement.
—IANS
by admin | May 25, 2021 | Business, Large Enterprise
New Delhi, (IANS) State-run power producer NTPC has signed an agreement with South Western Railway for doubling of the Hotgi-Kudgi rail section, the power producer said on Wednesday.
“NTPC-Kudgi has signed an agreement with South Western Railway. It has deposited Rs 946 crore with the railway towards the cost of doubling of the Hotgi-Kudgi rail section,” the company said in a statement.
The project is to be completed by March 2020.
The Hotgi-Kudgi section (134 km) has 10 block stations, eight major bridges and two important bridges — on river Don and river Bheema.
by admin | May 25, 2021 | Corporate, Corporate Buzz
New Delhi, (IANS) State-run power producer NTPC said it had on Monday signed a joint venture agreement (JVA) with state-run miner Coal India to revive plants of the Fertilizer Corporation of India Limited (FCIL).
The joint venture company will take up the revival of FCIL plants at Sindri in Bihar and Gorakhpur in Uttar Pradesh by setting up an ammonia urea plant at each location, said an NTPC statement.
The JV company would initially be incorporated with 50:50 equity participation from both, but also “contains provision of inducting strategic partners at a later date depending upon business requirement of JV company”, it said.
The JVA was signed by NTPC’s general manager (BD) Arun Kumar Gupta and Coal India’s general manager (Coal Videsh) T. Bandopadhyay.
