Power Grid to raise Rs2,500 cr through bond issue

Power Grid to raise Rs2,500 cr through bond issue

Hyderabad: State-run power transmission utility, Power Grid Corporation of India Limited (PGCIL) would raise around Rs2,500 crore through a bond issue by October-November this year for financing various projects , a top official said here today.

“For our financial requirement, we will go for issuance of bonds. The first one will be in October-November this year for Rs2,500 crore and...if required, another bond issue by the end of this fiscal also for about Rs2,500 crore," PGCIL chairman and managing director SK Chaturvedi said.

Speaking to reporters on the sidelines of a function, the PowerGrid CMD said they had sent proposals for underground sea-link between India and Sri Lanka for transmission.

“The MoUs for sea-link transmission between India and Sri Lanka are to be signed. We are also working on other over-seas projects in Dubai, Nigeria and Bhutan and are in discussion with Myanmar," he said.

The company has already completed a power transmission project in Afghanistan, Chaturvedi said adding “Since elections were going on there, the formal handing over of the project will be done after the new government assumes charge."