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DEBT | 5 March 2012

IFC May Invest $400 Mn In Power Grid Corporation

by Irfan Khan
IFC May Invest $400 Mn In Power Grid Corporation
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IFC may invest $400 Mn in Power Grid Corporation of India Limited, a national power transmission company of India responsible for planning, coordination and undertaking high voltage inter-state transmission in the country.

Power Grid has undertake project to enhance electricity transmission infrastructure in India.

The total project cost is estimated to be $2.3-3.5 bn over the next 12 months proposed to be 70% financed with debt and remaining from internal accruals.

IFC will invest $400 Mn which constitutes 15% of project cost, while balance debt will be raised including from multilaterals namely World Bank and ADB, and through issuance of domestic bonds.

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