MoneyWorks4Me

Power Grid to get $400 million from IFC for electricity transmission projects

05 Mar 2012 Evaluate

State-run Power Grid Corporation (PGCIL) is expected to get $400 million funding from the International Finance Corp (IFC) for undertaking electricity transmission projects in the country. The proposed project is estimated to be worth about $2.3-3.5 billion and the company is expected to fund 70% of the projects’ cost through debt while the remaining 30% will be from internal accruals.

The public sector major already has board’s approval for investments worth about Rs 70,000 crore related to 12th Plan Period (2012-17) projects.

The company reported a profit after tax of Rs 809 crore in the three months ended December 2011 as compared to Rs 591 crore in the year-ago period.

Peers
Company Name CMP
NTPC 317.00
Tata Power 345.00
Adani Power 196.60
Power Grid Corpn. 253.40
Adani Energy Solut. 1320.00
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