The State Bank of India (SBI) has approved a substantial loan of ₹10,050 crore to the Damodar Valley Corporation (DVC). This funding will support the development of an Ultra Super Critical Thermal Power Project in Koderma, Jharkhand. Click here to read more news related to SBI.
What Is the Project About?
The new project will have a total capacity of 1,600 megawatts (MW), with two units of 800 MW each. It is part of the Indian government’s ambitious plan to boost power generation capacity by 2030 to meet the growing energy needs of the country. Click here to read more news related to SBI.
Key Players Involved
The loan agreement was officially exchanged with several senior officials from both SBI and DVC present. From SBI, Ashwini Kumar Tewari, Managing Director of Corporate Banking & Subsidiaries, along with Deputy Managing Directors Gulshan Malik and Amitava Chatterjee, were there. On the DVC side, Arup Sarkar, Member (Finance), Joydeep Mukerjee, Executive Director (Finance), and Durgesh Maiti, Chief General Manager (Finance), represented the organization.
Why Is This Important?
This power project will significantly enhance India’s thermal power infrastructure. By increasing the power supply, it aligns with the government’s strategy to ensure that the country can meet its rising energy demands by the year 2030.
The new project not only represents a major investment in energy infrastructure but also highlights the ongoing efforts to secure the nation’s energy future.
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