Kolkata: Damodar Valley Corporation (DVC) has signed a loan agreement worth ₹10,050.42 crore with the State Bank of India (SBI) to fund the second phase of the Koderma Thermal Power Project in Jharkhand. The agreement, signed on September 11, 2024, will finance the construction of a 2×800 MW thermal power plant, with a total project cost of ₹14,357.74 crore.
The deal, formalized at SBI’s corporate office in Mumbai, involved senior officials from both DVC and SBI, including DVC’s Member (Finance) Arup Sarkar and SBI Managing Director (Corporate Banking & Subsidiaries) Ashwini Kumar Tewari. The project aims to increase power generation capacity in the region, supporting the growing electricity demand.
DVC already operates a 2×500 MW thermal power plant in Koderma, which plays a key role in the local energy supply. The new 1600 MW facility is expected to boost both regional power availability and contribute to socio-economic development in the area. This collaboration between DVC and SBI underlines the significant investment and financial partnerships required to support large-scale infrastructure projects.
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