Bhubaneswar, 10 December (H.S.): In a significant boost to Odisha’s power sector, the Odisha Power Transmission Corporation Limited (OPTCL) on Wednesday signed a long-term loan agreement with NABARD, securing ₹1,685.27 crore for the development of power transmission infrastructure across the state.

The loan extended at an interest rate of 7.75% per annum marks NABARD’s first-ever project financing initiative for any state PSU in Odisha. Of the sanctioned amount, ₹900 crore will be allocated to new transmission projects, while the remaining funds will be used to refinance high-cost loans.

Deputy Chief Minister and Minister for Agriculture, Farmers’ Empowerment & Energy, Kanak Vardhan Singh Deo, along with OPTCL Chairman-cum-Managing Director Bhaskar Jyoti Sarma, attended the signing ceremony and appreciated the strategic partnership aimed at ensuring reliable power supply for industries and consumers.

The agreement was formally exchanged between OPTCL Director (Finance) S. K. Sahoo and NABARD Odisha Regional Office General Manager V. K. Nag, in the presence of functional directors and senior officials of both organisations.

Officials stated that the collaboration is expected to fast-track critical transmission projects and support Odisha’s expanding industrial and economic ecosystem.

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Hindusthan Samachar / Monalisa Panda