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Business News/ Companies / Power Grid inks $500 million loan pact with Asian Development Bank
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Power Grid inks $500 million loan pact with Asian Development Bank

Power Grid Corp said it will get a loan of $500 million from the Asian Development Bank (ADB) for its various projects

Power Grid has entered into a loan agreement with ADB on 17 August, 2017, for an amount of $500 million. Photo: BloombergPremium
Power Grid has entered into a loan agreement with ADB on 17 August, 2017, for an amount of $500 million. Photo: Bloomberg

New Delhi: State-run power transmission utility Power Grid Corp on Friday said it will get a loan of $500 million from the Asian Development Bank (ADB) for its various projects.

“Power Grid has entered into a loan agreement with ADB on 17 August, 2017, for an amount of $500 million," Power Grid Corp said in a BSE filing.

According to the statement, the proceeds of the loan are proposed to be utilised for funding of Green Energy Corridor (Part D); 800KV High Voltage Direct Current (HVDC) bipole link between Western Region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu) and 320 KV HDVC link between Pugalur and North Trichur (Kerala).

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Published: 19 Aug 2017, 01:56 AM IST
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