The joint venture companies are yet to decide on the quantum of the bond or external commercial borrowings

NPCIL-Nalco Power Company Limited — a joint venture between Nalco and NPCIL (Nuclear Power Corporation of India Ltd) to set up nuclear plants —will raise a term loan of up to Rs 1,500 crore over the next three months to fund the construction of power generation capacities. The joint venture’s board met in Mumbai last week to take stock of the progress of the plant’s construction. B L Bagra, director (finance), Nalco said, “Initially, we are looking for Rs 1,000 to Rs 1,500 crore funding from various banks. We are in talks with the banks and hope to complete the process in the next two-three months.”