Meeting capital expenditure for expansion/ renovation
NEW DELHI, MARCH 12 :
Power Grid Corporation of India (PowerGrid) has entered into a term loan facility agreement for Rs.5000 crore with State Bank of India (SBI) today for meeting capital expenditure for expansion/ renovation and setting up of various undergoing and new transmission & other projects in the company and in identified SPVs/JVs of the company.
PowerGrid has an ambitious investment plan and has budgeted capital expenditure including investment in joint venture and subsidiaries of more than Rs 5000 crore during the each of the financial Year 2017-18 and 2018-19.
Major transmission lines under execution by PowerGrid are HVDC Bipole link between Western Region and Southern Region (Raigarh-Pugalur 6000mw HVDC System), PowerGrid Southern Interconnector Transmission System, Green energy Corridor ISTS, PowerGrid Warora Transmission System and PowerGrid Medinapur-Jeerat Transmission system.
PowerGrid is a "Navaratna" Central Public Sector Enterprise designated as the Central Transmission Utility (CTU) of India. It is India's largest Electric Power Transmission Utility and has been consistently rated "Excellent" under Memorandum of Understanding with Ministry of Power since 1993-94.