Damodar Valley Corp. Secures Rs 10,050.42 Crore Loan For Koderma Thermal Power Project

The Damodar Valley Corporation has achieved financial closure for its 2x800 MW Koderma Thermal Power Project (Phase-II) in Jharkhand by securing a loan agreement worth Rs 10,050.42 crore with the State Bank of India.

The total cost of the 1600 MW thermal power plant is 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, told PTI after signing the agreement in Mumbai. Ashwini Kumar Tewari, managing director (corporate banking & subsidiaries) of SBI was also present on the occasion.

The project is expected to significantly enhance power generation capacity in the region and contribute to the socio-economic development of the area. DVC already operates a 2x500 MW thermal power plant in Koderma, which continues to meet local and regional power demands.