India : PGCIL to enter bond market to raise Rs 4,000 crore.Byline: pinto03 Central transmission utility Power Grid Corporation of India
The Power Grid Corporation of India Limited (PGCIL) (PGCIL PGCIL Power Grid Corporation of India Ltd. PGCIL Power Grid Corporation of India Ltd ) will hit the bond market to raise Rs 4,000 crore n. 1. Ten millions; as, a crore of rupees (which is nearly $5,000,000) s>. Noun 1. crore - the number that is represented as a one followed by 7 zeros; ten million this year to part-finance its projects, including those in the private sector. These funds would be used for building a sound transmission network for private power generation companies as well as state-run companies such as NTPC NTPC National Thermal Power Corporation (India) NTPC Northwest Territories Power Corporation NTPC Northwest Territories Power Corporation (Canada) NTPC Navy Training Plan Conference and Damodar Valley Corp. The money will be raised by issuing bonds in two tranches before March, 2010," a senior company official said. Besides issuing bonds, the public sector transmission firm is also seeking loans worth Rs 8,750 crore from the World Bank and the Asian Development Bank Asian Development Bank A financial_institution established in 1966 to reduce poverty in the Asia-Pacific region. The bank is headquartered in Manila, Philippines and consists of 61 member countries. to finance its projects in the next financial year. The company has sent its proposal to the finance ministry through the power ministry to negotiate with the multilateral lending agencies, the official said Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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