It is reported that Kanti Bijlee Utpadan Nigam Limited, a subsidiary of NTPC Limited, has achieved financial closure for Stage II of Muzaffarpur Thermal Power Project consisting of two units of 195 MW each. The project is situated in the state of Bihar.

A loan agreement for INR 2341 crore in this regard was signed on September 27th 2011 in New Delhi with consortium of four banks led by State Bank of India. Besides State Bank of India, Canara Bank, India Infrastructure Finance Company Ltd. and United Bank of India are members of consortium.

The loan would be utilized for financing capital expenditure of its Stage II of Muzaffarpur Thermal Power Project. The Loan facility was syndicated by SBI Capital Markets Limited.

Mr AK Singhal director (finance) NTPC with the officials of consortium of four banks of State Bank of India, Canara Bank, India Infrastructure Finance Company Ltd and United Bank of India on the occasion of Kanti Bijlee Utpadan Nigam Limited a subsidiary of NTPC Limited achieving financial closure for Stage II of Muzaffarpur Thermal Power Project consisting of two units of 195 MW each. A loan agreement for INR 2341 crore in this regard was signed in New Delhi.