PowerGrid to raise Rs 3,000 cr through private placement of bonds

Mumbai  . PowerGrid Corporation, which is the Central Transmission Utility (CTU) will soon raise Rs 3,000 crore through private placement of bonds.

 

This is the first tranche of the Rs 10,000 crore to be raised through private placement of bonds in 2014-15. The proceeds will be used to part fianance the capex of Rs 22,450 crore planned during the current fiscal.

 

Power Grid Corporation official told Business Standard, ''The company had made capex of Rs 22,324 crore in 2013-14 of which Rs 10,000 crore raised through private placement of bonds and the balance through internal accruals and loans already mobilized through multilateral and domestic institutions. Similarly, nearly Rs 10,000 crore will be raised through private placement of bonds during the current fiscal.''

 

He informed that Power Grid Corporation has proposed an investment of Rs 1,10,000 crore during the 12th five year plan for the development of inter state transmission system. The company has invested Rs 22,337 crore in 2012-13, Rs 22,324 crore in 2013-14.