11 February, 2012
PowerGrid Corp said it is likely to get a Rs. 5,000 crore line of credit (LoC) from the State Bank of India. The State Bank has in principle agreed to extend a line of credit worth Rs 5,000 crore.
This is part of the company’s target of investing Rs. 100,000 crore during the 12th Plan period (2012-17) to increase its transmission network by over 60,000 circuit km to around 1.5 lakh circuit km.
Of the total fund raising plan, the Central utility will be raising 30 per cent, or Rs 30,000 crore, through equity (internal accruals and FPO proceeds) and the rest Rs 70,000 crore through debt, which could be from both domestic as well as international markets.