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

The State Bank of India (SBI) has sanctioned a Rs 10,050 crore loan for the Damodar Valley Corporation (DVC) to develop a 1,600 MW Ultra Super Critical Thermal Power Project in Koderma, Jharkhand. The project involves constructing two units of 800 MW each and is part of the Ministry of Power's capacity addition plans by 2030.

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

DVC plans to utilize the Rs 10,050 crore loan for developing a 1,600 MW Ultra Super Critical Thermal Power Project, as per the lender's official statement. The project will see the construction of two units of 800 MW each in Koderma, Jharkhand.

This initiative has been singled out by the Ministry of Power as a significant project to boost capacity addition by 2030. SBI highlighted that it has maintained a robust pipeline of corporate loans, reflecting its commitment to infrastructure projects amid concerns over sluggish capex growth in recent quarters.

(With inputs from agencies.)