Inside Pages9Final.indd - Ministry of Power

6.0 RAISING OF FUNDS FOR CAPACITY ADDITION
PROGRAMME
6.1 DOMESTIC BORROWINGS: NTPC has tied
up loans from Domestic Banks and Financial
Institutions aggregating Rs. 18034 crore as on
15th December 2005 for its Capacity Addition
Programme, including Rs.3000 crore LIC Bonds.
The cumulative utilization upto 15th December
2005 is Rs. 10914.35 crore. The balance of
Rs.7119.65 crore is yet to be drawn.
6.2 DOMESTIC BONDS : In March 2005, the company
has issued Series XX Bonds aggregating Rs.500
crore to Life Insurance Corporation of India. The
total amount of domestic Bonds outstanding as
on 30.11.2005 is Rs.3704.40 crore.
6.3 PUBLIC DEPOSITS: As on 31.03.2005, the
cumulative deposits received by the company
from 2073 depositors stood at Rs.415.93 crore.
The corresponding figures on for the year 2005-06
upto 30.11.2005 are 1263 depositors aggregating
Rs.86.98 crore.
6.4 K-EXIM EXPORT CREDIT: During the year
2004-05, NTPC signed an agreement for Buyer’s
Credit facility of USD 354.25 million extended by
the Export Import Bank of Korea, BNP Paribas
Bank and HSBC Bank to finance the Steam
Generator Package for Sipat Super Thermal
Power Project Stage-l. The Export Import Bank
of Korea, in addition to being a direct lender,
has also guaranteed the credit facility. The loan
carries a provision for payment of interest at fixed
rate of 4.31% p.a. The all-in-cost of the credit
is 5.06% p.a. The maturity of loan is 16 years.
The disbursements under this credit facility
have begun in the year 2004-05 and NTPC has
drawn an amount of USD 50.219 million as on
22.12.2005.
6.5 JBIC Loan for North Karanpura : A loan of JPY
15.916 billion was signed on March 31, 2005
to part finance the capital expenditure to be
incurred at proposed North Karanpura Project
(3x660 MW). This loan is extended under Official
Development Assistance Scheme of JBIC. The
rate of interest is 0.75% p.a. (fixed). The loan has
a maturity of over 15 years with repayment period
of 10.5 years and disbursements are allowed
over a period of 5 years. The loan is backed by a
Government of India guarantee.
6.6 Swedish Export Credit : A Buyers’ Credit facility
MINISTRY OF POWER
agreement of USD 41.56 million was signed on
9th June 2005 to finance the Power Transformer
Package for the Sipat Super Thermal Project
Stage-ll. The credit is extended by BNP Paribas
Bank and HSBC Bank and is guaranteed by
the Swedish Export Credit Agency, EKN. The
disbursements from this credit have commenced
and as on 22.12.2005, an amount of USD 1.65
million has been utilised. The disbursements shall
close by April 2007. The loan carries a provision
for payment of interest at fixed rate of 3.85% p.a.
The tenure of the loan is 7 years. An important
feature of this loan is that the facility is extended
on stand-alone basis and is not backed by any
Government of India guarantee.
6.7 INITIAL PUBLIC OFFERING (IPO): NTPC made
a Public Issue of 865,830,000 equity shares
o f Rs.10 each for cash at a price of Rs.62 per
share aggregating Rs.5368.14 crores consisting
of fresh issue of 432,915,000 equity shares and
an “Offer for Sale” of 432,915,000 equity shares
by the Government of India. A sum of Rs.2,684
crores was remitted to the Government and
balance was retained by the company. Out of
proceeds of Rs.2,684 crores retained by the
company, a sum of Rs.1042.2 crores has been
utilized till 31st March 2005 for part financing the
capital expenditure of the projects specified in
the prospectus and the remaining amount will be
similarly utilized progressively.
7.0 MOU PERFORMANCE : NTPC is the first power
sector corporation to have signed a Memorandum
of Understanding (MOU) with the Govt. of India and
has a consistent record of surpassing the set targets
in MOU year after year. NTPC achieved the Excellent
targets set under the Memorandum of Understanding
(MOU) signed with GOI and achieved Excellent Rating
for all the 18 years upto 2004-05 since inception of the
MOU system.
8.0 CORPORATE PLAN : In tune with the transformation
roadmap, the corporate plan of NTPC for the period
1997-2012 has been updated to 2002-2017 and
the updated Corporate Plan has been approved by
company’s Board of Directors. NTPC’s Corporate
Plan envisages NTPC to be a 56,000 MW Plus
Company by 2017 comprising 42,000 MW coal and
gas based capacity, 11,000 MW hydel capacity,
2000 MW nuclear capacity and 1000 MW from nonconventional
sources. The ownership profile of
79