Indian Overseas Bank sanctions Loan Project of Rs 5,581.03 cr to DVC

New Delhi: Public Sector Bank, Indian Overseas Bank has sanctioned a project loan of Rs 5,581.03 crore for a thermal power project of Damodar Valley Corporation (DVC).

The loan sanction has been provided to DVC for setting up a super-critical thermal power unit of 1x800 MW at Durgapur, West Bengal. The Bank has proudly announced the full financial tie-up for this landmark project.

 

The loan agreement was executed by Shri Durgesh Maiti, CGM (Finance), DVC, and Shri R. Rakesh, DGM, IOB, in the august presence of Sri Gaurav Bhardwaj, GM, IOB; AGM Sri P. G. Sankarakrishnan; Shri S. Suresh Kumar, Chairman, DVC; Shri Arup Sarkar, Member (Finance); and other dignitaries.

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