Stock Market Tips >> Power Grid inks $500 million loan pact with Asian Development Bank

Get live News Updates visit us at http://www.ripplesadvisory.com or One Missed Call on @ 9644405056

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 HVDC link between Pugalur and North Trichur (Kerala).