Corporate News
NTPC in talks with banks to rescue ?30,000 crore debt-laden KSK Mahanadi Power

NTPC is in discussions for a financial rescue of a 3,600 MW thermal power plant in Chhattisgarh that is saddled with ?30,000 crore in debt, which it is unable to service, according to banking sector executives in the know. The state-owned power giant is looking at a collaboration with banks to rescue KSK Mahanadi Power, a holding company which houses the plant. The collaboration could take the form of a 50:50 joint venture (JV) between NTPC and the banks after the former infuses funds into the company, these executives said. "It is still early days in the discussions," an executive representing the banking consortium told ET on the condition of anonymity. "We are not getting a good price for the asset. If we enter into a JV then we can also enjoy the future upside from the project by holding on to an equity stake. This is an operating asset."

News Source:- https://economictimes.indiatimes.com/markets/companies/ntpc-in-talks-with-banks-to-rescue-30000-crore-debt-laden-ksk-mahanadi-power/articleshow/86982910.cms