 "Power Grid Corp enters Rs 3,270 cr term loan pact with ICICI Bank")
State-run Power Grid Corp today said it has entered into a term loan facility agreement with ICICI Bank for Rs 3,270 crore.
Power Grid Corp, the central power transmission utility, has an ambitious investment plan and has budgeted capital expenditure (CAPEX) including investment in joint venture and subsidiaries of more than Rs 25,000 crore during 2017-18, Power Grid said in a statement today.
During the current fiscal, it has mobilised Rs 6,130 crore through issue of bonds under private placement, term loans from domestic commercial banks and has also entered into two long term loan agreements with Asian Development Bank (ADB) for $725 million for financing CAPEX.
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