CM presides over meeting of Narmada Basin Projects’ Board of Directors
| Date :29-Sep-2020 |
Chief Minister Shivraj Singh Chouhan addressing a meeting of Narmada Basing Projects Company at Mantralaya in Bhopal on Monday.
Staff Reporter :
Gives approval to increase share capital of company from Rs 50 cr to 5,000 cr
A meeting of Board of Directors of Narmada Basin Projects Company Ltd was held on Monday at Mantralaya under the chairmanship of Chief Minister Shivraj Singh Chouhan. In order to make the system more easy for obtaining loan for the execution of various projects of the company, the authorised share capital of Narmada Basin Projects Company Limited has been increased from Rs 50 crore to 5,000 crore. Approval was obtained on 14 important points during the meeting.
The company took approval on the proposal of loan of Rs 7,500 crore from NABARD for execution of various irrigation projects of Narmada Valley Development Authority like Upper Narmada Project, Narmada Kshipra Multipurpose Project and Badnawar Micro Irrigation Project besides some other ongoing projects. Along with this, proposals for obtaining loan of Rs 10,000 crore from the bank for the execution of various irrigation projects of Narmada Basin Projects Company and Narmada Valley Development Authority. In context to State Guarantee Fees, the company is required to pay State Guarantee Fees against 0.5 per cent loan amount annually.
In this way, about 1500 crore on the payment of full loan, will have to be paid against the loan amount of Rs 24,000 crore of 11 different projects. The Guarantee Fees of 0.5 per cent per annum against the loan amount will be made one time.