PowerGrid To Raise Rs 3000 Cr Via Bond Issue
Public sector transmission enterprise - PowerGrid will raise Rs 3000 cr through a bond issue by January 2010.
The company is also seeking loans of Rs 8,750 crore from the World Bank and the Asian Development Bank to fund upcoming transmission projects in the country.
It has also sent a proposal to the Ministry of Finance through the Power Ministry to negotiate with the multilateral lending agencies.
The company plans to invest Rs 55,000 crore to set up transmission lines in the country during the current Five Year Plan (2007-12).
PowerGrid plans to augment its transmission capacity to 23,400 MW in the current fiscal from the existing 19,800 MW and enhance it to 37,000 MW within the plan period.
Powergrid handles about 45% of the total power generated in the country on its transmission network. It has a pan India presence with around 71,500 circuit kms of transmission network and 120 nos. of EHVAC & HVDC sub-stations with a total transformation capacity of 79,500 MVA.
Powergrid has also diversified into telecom business and established a telecom network of more than 20,000 Kms across the country. It has consistently maintained the transmission system availability over 99% which is at par with the International Utilities.
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