India’s National Thermal Power Company (NTPC) has secured loans worth US$530mn from JBIC and SMBC.

The finance will be used to purchase steam turbine generators and boiler feed water pumps from an Indian-based subsidiary of Toshiba, Ebara. It was also help construct coal-fired plants in the Kudgi district of Karnataka state, south India.

SMBC’s portion of the debt, totalling US$350mn, is covered by Nexi buyer’s credit and broken into two tranches of US$259mn and US$91mn, while the JBIC portion is broken into two tranches of US$55mn and US$155mn.