Financial Daily from THE HINDU group of publications
Friday, Nov 04, 2005


Group Sites

Corporate - Announcements

PowerGrid gets $400-m ADB loan

Our Bureau

NEW DELHI: Power Grid Corporation India Ltd (PGCIL) has got a $400-million loan from the Asian Development Bank (ADB) for a slew of transmission projects.

A loan agreement was signed by the PGCIL Chairman, Mr R.P. Singh, and the ADB Country Director, Mr Tadashi Kondo, here on Thursday.

"PGCIL has geared up to award contracts for projects valuing about $300 million progressively in next three months out of the total loan of $400 million, which is a major achievement in its own right," Mr Singh said in a statement. The Government has extended a guarantee for the 20-year loan that will be utilised to fund a basket of transmission projects, including the National Grid project.

PGCIL would use the loans for setting up transmission infrastructure for transmitting 2,500 MW of power from the Kudankulum Atomic Power Plant and Neyveli Lignite Power Plant to Andhra Pradesh, Tamil Nadu, Kerala and Pondicherry.

This is the third ADB loan to PGCIL. Earlier, the power utility had obtained $275 million and a $250 million loan from the Manila-based multilateral funding agency.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Tata Safari Dicor

Stories in this Section
Nagarjuna Power may award O&M contract to strategic investor

ONGC decides against special dividend — May consider interim dividend later
BHEL bags Rs 130-cr IOC order
PowerGrid gets $400-m ADB loan
UK court permits Ranbaxy to appeal Lipitor verdict
Danish co acquires 60 pc equity in Pennar Profiles
Sentini group plans Rs 300-cr expansion programme
KPMG joint venture for sourcing Indian experts
Investment arm: Coal India hopeful of early approval
MoU with ONGC on gasification

Shalimar Paints teams up with Kunsul Chemical
Grover Vineyards hopes to raise Rs 15 cr via stake sale
Indian Seamless bets big on exports
Coal India H1 profit up at Rs 2,828 cr
VSP sales turnover up
Maruti domestic sales up
GM sales rise marginally
Hindustan Zinc non-exec chief

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line