Power Grid Corporation of India clarifies on loan from KfW

MUMBAI. The Exchange had sought clarification from Power Grid Corporation of India Ltd with respect to news appearing in Mint on December 19, 2014 titled "KfW to lend to Power Grid."

 

Power Grid Corporation of India Ltd has replied stating that POWERGRID had increased its borrowing limit to Rs. 1,30,000 crore in December, 2013. The Notice and the approval of the Shareholders were sent to the Stock Exchanges as well. In the said Notice, the financial requirements for 2014-15, included KfW Loan of EUR 560 Million proposed to be tied up for Green Energy Corridors project of POWERGRID. 

 

The said KfW Loan has been tied up for EUR 500 Million. However, investment approval of the project, for which the said loan has been tied up, is yet to be approved. On investment approval of the said project by POWERGRID Board of Directors, the Stock Exchanges will be duly informed as in the past. Equity bulls