India to secure $1B power loan from World Bank

The government’s Power Grid Corp. of India Ltd. is in the final stages of securing $1 billion in loans for its planned 5-year capital expenditure worth INR550 billion ($13.4 billion). According to a senior executive, the company, which is India’s biggest power transmission utility in terms of capacity, hopes to raise $600 million from the World Bank and another $400 million from the Asian Development Bank by June of this year. At present, Power Grid is among the World Bank’s shortlisted firms for managing Nigeria’s 4,000-megawatt transmission system. (Source: India Power Grid To Finalize $1 Billion World Bank,ADB Loan By June/ Dow Jones)

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