Power Grid inks $500 million loan pact with ADB

Power Grid inks $500 million loan pact with ADB
21/08/2017 , by , in ALLIED

State-run power transmission utility Power Grid Corp today 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 August 17, 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 (Kerela).

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