NTPC ties up with SBI for Rs.8,500 crore loan

October 12th, 2009 NEW DELHI - Indian Renewable Energy Development Agency Ltd (IREDA) has tied up with KfW, a German development bank, for promoting biomass power generation in the country. As per the agreement, KfW will provide financial assistance worth 19.971 million euros (Rs.140 crore) to IREDA, the German agency said Monday in a statement.

September 25th, 2009 NEW DELHI - State-owned power utility NTPC has asked the power ministry to ascertain whether the marketing margin levied by Reliance Industries (RIL) on gas from the Krishna Godavari basin was valid. In a Sep 23 letter to the power ministry, NTPC executive director T.K.

September 10th, 2009 NEW DELHI - State-run power utility NTPC may sign an agreement to buy natural gas from Mukesh Ambani-run Reliance Industries (RIL) at the government-approved rate of $4.20 per unit for plants other than Kawas and Gandhar, Power Secretary H.S. Brahma said Thursday.

September 10th, 2009 NEW DELHI - State-run power utility NTPC Thursday said the government may sell up to 5 percent in the company before March. "The government is looking to dilute between 4.7 to 5 percent.

September 2nd, 2009 NOIDA - State-run power utility NTPC will not file a separate plea in the ongoing legal dispute between Reliance Industries and Reliance Natural Resources since the government has already moved an application to protect its own and the navratna firm's interests, a senior government official said Wednesday. "Since the petroleum ministry has come out in support of NTPC, there is no need for NTPC to go to the Supreme Court," Power Secretary H.S.

August 24th, 2009 SHIMLA - Himachal Pradesh-based knitting and weaving products firm Winsome Textile has outlined a Rs.143-crore expansion programme after banks approved its debt restructuring plan, a top company official has said. "After getting clearance from banks for debt restructuring, we have plans to invest Rs.143 crore in three divisions -- spinning, dyeing and power," managing director Ashish Bagrodia told IANS.

August 19th, 2009 NEW DELHI - Union Petroleum Ministry on Wednesday assured its support to National Thermal Power Corporation (NTPC) in the legal battle to get natural gas from Mukesh Ambani's Reliance Industries Limited (RIL) as per the rates decided in 2004. The ministry said it would not allow the interest of the NTPC to be compromised.

July 27th, 2009 NEW DELHI - State-run power utility National Thermal Power Corp (NTPC) Monday reported a 27 percent increase in its net profit to Rs.2,193.6 crore (Rs.21,936.2 million) for the first quarter this fiscal, as compared to the Rs.1,726.53 crore it netted in the year-ago period. Its total income surged 24 percent to Rs.12,778.96 crore from Rs.10,256.7 crore, the company said in a regulatory statement.

July 23rd, 2009 RAIPUR - Power utility NTPC Ltd has agreed to provide 35 percent of the electricity produced at its upcoming 500 MW stage-III Korba project to Chhattisgarh, a government statement said Thursday. "NTPC (formerly National Thermal Power Corp) has agreed to provide 175 MW power to Chhattisgarh from its 500 MW stage-III Korba project that will begin generation by February 2010," the statement said.

July 22nd, 2009 MUMBAI - Housing Development Finance Corp (HDFC) has seen its net profit for the quarter ended June 30 increase over 20 percent to Rs.565 crore, as compared to Rs.468 crore in the corresponding period last fiscal. The company's total income increased 22.8 percent to Rs.2,849 crore from Rs.2,318 crore, it said in a regulatory statement.

July 11th, 2009 RAIPUR - India's largest power producer NTPC, formerly National Thermal Power Corp, Sunday signed an agreement with the Chhattisgarh government for setting up a 4,000 MW coal-fired power plant on an investment of Rs.20,000 crore. Power Minister Sushilkumar Shinde, who was present during signing of the pact, said the plant would be set up in the coal-rich Raigarh district.

June 9th, 2009 MUMBAI - India's fraud-hit IT giant Satyam Computer Services Tuesday said it had a bank balance of Rs.373 crore (about $75 million) at the end of March 2009, but at the same time, it also had a Rs.460-crore loan outstanding. At the beginning of the year, the IT giant's outstanding loan stood at Rs.200 crore.

May 22nd, 2009 NEW DELHI - The state-owned power utility NTPC Ltd, formerly National Thermal Power Corp, posted a net profit after tax of Rs.8,201 crore in 2008-09 against Rs.7,415 crore netted the last fiscal, an increase of Rs.786 crore, the company announced Friday. Total income increased from Rs.40,018 crore 2008-09 to Rs.45,273 crore the previous fiscal, NTPC said in a regulatory statement.

April 8th, 2009 NEW DELHI - State-owned power generation major NTPC will generate an additional 3,300 MW in 2009-10, but only about 2,000 MW of this will be available for commercial use this fiscal, a top official said here Wednesday. NTPC has planned a capacity addition of 22,430 MW by 2012.

April 8th, 2009 NEW DELHI - State-run power generation firm NTPC Ltd Wednesday reported 5.6 percent increase in its provisional net profit for 2008-09. NTPC, formerly known as National Thermal Power Corp, posted Rs.7,827.4 crore ($1.5 billion) as profit for 2008-09, compared to Rs.7,414.8 crore the year before, the company said in a statement.