PGCIL to raise Rs 2,500 crore through bond issue

State-run power transmission utility Power Grid Corporation of India Limited (PGCIL) would raise around Rs 2,500 crore through a bond issue by October-November this year for financing various projects , a top official said here today.

“For our financial requirement, we will go for issuance of bonds. The first one will be in October-November this year for Rs 2,500 crore and if required, another bond issue by the end of this fiscal also for about Rs 2,500 crore,” PGCIL Chairman and Managing Director S K Chaturvedi said.

Speaking to reporters on the sidelines of a function, the PowerGrid CMD said they had sent proposals for underground sea-link between India and Sri Lanka for transmission. “The MoUs for sea-link transmission between India and Sri Lanka are to be signed. We are also working on other over-seas projects in Dubai, Nigeria and Bhutan and are in discussion with Myanmar,” he said.

The company has already completed a power transmission project in Afghanistan, Chaturvedi said.