Power Grid board approves JPY 80 billion overseas loan facility

New Delhi: The Board of Directors of Power Grid Corporation of India Limited (PGCIL) has approved availing an unsecured term loan facility of JPY 80 billion from the Japan Bank for International Cooperation and participating financial institutions.

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The decision was taken at the company's board meeting held on Wednesday.

The proposed Japanese Yen-denominated borrowing is expected to support Power Grid's capital expenditure plans and strengthen its financial resources for ongoing and future transmission infrastructure projects.

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The overseas financing arrangement is in line with the company's strategy of diversifying funding sources and securing long-term capital at competitive rates to support the expansion and modernization of India's power transmission network.

Power Grid is India's largest electric power transmission utility and plays a pivotal role in strengthening the country's energy infrastructure.

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