Bhubaneswar, December 10: A Long-Term Loan Agreement was signed between OPTCL and NABARD for the development of power infrastructure in Odisha. This strategic financial partnership aims to ensure quality and reliable power supply for upcoming industries as well as consumers across the State.

Under this agreement, NABARD has extended a loan of Rs 1,685.27 crore to OPTCL at an attractive interest rate of 7.75% per annum. Of the total loan amount, Rs 900 crore will be utilised for new transmission projects, while the remaining amount will be used for swapping existing high-cost loans. This initiative marks the first-ever project financing by NABARD to any State PSU in Odisha, making it a landmark development in the state’s power sector.

The MoU signing ceremony was graced by Deputy Chief Minister and Agriculture & Farmers' Empowerment and Energy Minister, Kanak Vardhan Singh Deo and OPTCL CMD Bhaskar Jyoti Sarma.

The agreement was formally exchanged between S. K. Sahoo, Director (Finance), OPTCL and V. K. Nag, General Manager, Odisha Regional Office, NABARD. Other functional Directors of OPTCL, senior officials of OPTCL & NABARD were also present on the occasion.

This partnership is expected to accelerate the execution of critical transmission infrastructure and support the state’s growing industrial and economic landscape.