NTPC gets bonds worth Rs 11,503cr from States

In a major financial gain, state-owned National Thermal Power Corporation has got bonds worth Rs 11,503 crore from state electricity boards towards its past dues, which would help the corporation to achieve its target of adding 20,000 MW by 2012.

NTPC would be getting a total of Rs 17,365 crore as per the Ahluwalia committee recommendations for one-time settlement after waiving 60 per cent of surcharge, of which bonds worth Rs 11,503 crore have been received this week, a NTPC statement said here. According to NTPC officials, the remaining bonds worth about Rs 5,862 crore were expected by the end of this month.

The outstanding dues of Rs 2,411 crore owed by Delhi would be securitised separately under an alternate payment mechanism. A tri-partite agreement would be signed for which work in already under progress.

One-time settlement scheme has proved to be beneficial to state boards also as surcharge has been waived and cash incentives provided for full payment of current bills.