SBI Approves Rs.10,050 Crore Loan for Power Project

17 Sep 2024 CW Team

State Bank of India (SBI) has approved a loan of Rs.100.5 billion for Damodar Valley Corporation (DVC) to develop an Ultra Super Critical Thermal Power Project in Koderma, Jharkhand. The 1,600 MW (800x2 MW) project aligns with the Ministry of Power's initiative to boost energy capacity, as India seeks to meet its growing electricity demands by 2030.

The loan agreement was exchanged in the presence of senior SBI officials, including Ashwini Kumar Tewari, Managing Director (Corporate Banking & Subsidiaries), Gulshan Malik, and Amitava Chatterjee, Deputy Managing Directors (Commercial Clients Group). Representing DVC were Arup Sarkar, Member (Finance), Joydeep Mukerjee, Executive Director (Finance), and Durgesh Maiti, Chief General Manager (Finance).

This project is a significant step toward strengthening India's thermal power infrastructure, supporting the country's long-term energy strategy.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..