Power News We love to talk!

MAR 13 2018

Power Grid inks pact with SBI for Rs5,000 crore loan

  • Economic Times, ET Bureau / Hyderabad
  • Created: Tue 13th MAR 2018

 

State-owned Power Grid Corporation said on Monday that it has entered into an agreement with State Bank of India (SBI) for Rs5,000 crore term loan for meeting its capital expenditure.

In a BSE filing it said the company has entered into a term loan facility agreement for Rs5000 crore with State Bank of India (SBI) on Sunday for meeting “capital expenditure for expansion/ renovation and setting up various undergoing and new transmission and other projects in the company and in identified SPVs/JVs (special purpose vehicles/joint ventures) of the Company”.

Power Grid has planned a capital expenditure of Rs25,000 crore in the next fiscal. Its budgeted capital expenditure for the current fiscal is also Rs25,000 crore. The company is mainly into power transmission and is a central transmission utility of the country.

 

Tags

Power Grid Grid Bank of India Power India SBI

Related News

  • TATA, Adani among prospective bidders  Read more
  • AP proposes hydrocarbon cracker project with an investment of Rs 1 lakh cr in Machilipatnam  Read more
  • RBIs new NPA norms may hit 50,000 Megawatt power capacity  Read more
  • As wind energy industry grows, changing rules get tough for many  Read more
  • Modis emphasis on clean fuels pays off: Fidelity, Aberdeen bet on natural gas retailers IGL, Gujarat Gas & Mahanagar Gas  Read more
  • India and Russia discuss direct gas delivery line  Read more
  • `Hydro power can solve growing energy needs, more feasible than solar and wind'  Read more
  • Fukushima survivors sue Japanese govt, TEPCO  Read more
  • PE firms' interest in renewable energy sector remains high  Read more
  • Reliance Industries declares 30% higher refinery capacity at Jamnagar plant  Read more