SBI Sanctions Rs 10,050 Cr Loan for DVC Thermal Power Project

Mumbai, Sep 12 (PTI) The country's largest lender State Bank of India (SBI) on Thursday announced that it has sanctioned a project loan of Rs 10,050 crore for a thermal power project by Damodar Valley Corporation (DVC).

In an announcement, the country's largest lender said DVC plans to borrow Rs 10,050 crore for the 1,600 MW Ultra Super Critical Thermal Power Project.

The project involves the construction of two units of 800 MW each in Koderma, Jharkhand, as per an official statement.

This project has been identified by the Ministry of Power as one of the projects for capacity addition by 2030, it said.

It can be noted that SBI has been maintaining that it has a robust pipeline of corporate loans for the last few quarters, even when concerns were being raised about the lack of overall capex.