PowerGrid Corporation of India Ltd (PGCIL) will borrow $2 billion (about Rs
10,000 crore) from World Bank (WB) and Asian Development Bank (ADB) to part
finance its Rs 55,000 crore investment plans till 2012.
PGCIL is expected to receive a loan of $1 billion (approx Rs 5,000 crore) by
June 2009 from WB and another $1 billion from ADB in the next fiscal.
The ADB loan will be utilised for building the transmission link for the
4,000 MW Tilaiya Ultra Mega Power Project in Jharkhand, slated for commissioning
in 2015. Meanwhile, the WB loan will be utilised for projects till the end of
the current plan and beginning of next plan (2012-17).
Also See:
PGCIL to
establish power transmission networks (04-Apr-09)