New Delhi: The Board of Directors of Power Grid Corporation of India Limited (PGCIL) has approved a proposal to enhance the company's borrowing limit to Rs 2.20 lakh crore from the existing Rs1.80 lakh crore. However, this limited is subject to shareholders' approval at the upcoming Annual General Meeting (AGM). The decision was taken at the company's board meeting held on Friday.

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As part of its financing plans, the board also approved raising foreign currency funds through External Commercial Borrowings (ECB) of up to USD 500 million from Bank of Baroda.

In another key decision, the board approved investment for the upgradation and conversion of the Udumalpet-Madurai 400 kV single-circuit transmission line into a 400 kV quad double-circuit line. The project will be implemented at an estimated cost of Rs 772.65 crore.

The transmission project is scheduled to be completed within 30 months from the date of allocation and is targeted for commissioning by August 11, 2028.

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Separately, the Committee of Directors for Bonds of Power Grid approved the General Information Document (GID) for the issuance of debentures during FY 2026-27.

The approval enables the company to raise funds through the issuance of debt securities or bonds in one or more tranches on a private placement basis during the current financial year.

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