PGCIL to finalise US$750 mn ADB loan
State-run Power Grid Corporation of India (PGCIL) is in the process of finalising a US$750 million loan from the Asian Development Bank for one of its transmission projects.
The loan would be utilised for establishing a High Voltage Direct Current (HVDC) inter-regional transmission system between the Northern (Haryana) and Western (Chhatisgarh) region, Minister of State for Power K C Venugopal has informed the Rajya Sabha.
"Of the total US$750 million, loan amount of US$500 million shall be availed through Government of India guarantee. The loan amounting to US$250 million shall be on commercial terms and conditions without Sovereign Guarantee by the government," Venugopal noted.
According to the Minister, this inter-regional transmission system is part of comprehensive transmission scheme for transfer of power from independent power producers’ generation projects coming up in Chhattisgarh.