Power Grid seeks partners for telecom biz

Power Grid Corporation of India is foraying into telecom and
entertainment business, and is scouting for tie-ups with established players in the segment.

This will include data centre management, gigabyte knowledge tranmission, tower business and voice over Internet.

The company is in talks with Asian Development Bank and World Bank for raising over $1 billion each without government guarantee. The company is also in talks with these banks for loans worth $600 million each with government guarantee.

"This will be finalised within the next few months." said R P Singh, chairman, Power Grid.