NTPC in talks with banks to rescue ₹30,000 crore debt-laden KSK Mahanadi Power
NTPC NSE 1.42 % 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.
