The Power Grid Corporation has recently raised a huge amount of around $1 billion (Rs 4,000 crore) via loans from the Asian Development Bank (ADB) and The World Bank. The company has issued an official statement on Monday for informing the Bombay Stock Exchange regarding the matter and according to the statement, the company has already signed a loan agreement with the ADB, Manila for $400 million.
Informing that the loan is a part of the newly introduced loan facility of ADB, called Multi-tranche Financing Facility (MFF) that is based on the time-sliced approach. The company officials further informed that the Power Grid Corporation has also signed an agreement with The World Bank for raising an amount of $600 million further. The officials further said that they will utilize the loan for funding a basket of transmission projects during the 11th Plan.
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| Posted : 4/1/2008 |
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