DVC Secures Rs 10,050 Crore Loan for Koderma Thermal Power Project Phase-II

The Damodar Valley Corporation (DVC) has secured a Rs 10,050.42 crore loan from the State Bank of India for its 2x800 MW Koderma Thermal Power Project (Phase-II) in Jharkhand. The project, with a total cost of Rs 14,357.74 crore, aims to enhance regional power generation and contribute to socio-economic development.

In a significant development for India's energy sector, the Damodar Valley Corporation (DVC) has secured financial closure for its ambitious 2x800 MW Koderma Thermal Power Project (Phase-II) in Jharkhand. The company has obtained a loan agreement worth Rs 10,050.42 crore with the State Bank of India (SBI).

The total estimated cost for this thermal power plant stands at Rs 14,357.74 crore. 'Construction is expected to commence in the current fiscal year, with the first phase anticipated to become operational in four years,' Arup Sarkar, member (finance) of DVC, stated. The loan agreement signing took place in Mumbai, with the presence of Ashwini Kumar Tewari, managing director (corporate banking & subsidiaries) of SBI.

This project is poised to substantially boost the power generation capacity in the region, contributing to both local and regional socio-economic development. DVC already runs a 2x500 MW thermal power plant in Koderma, effectively meeting the area's power demands.