Power Grid Corporation Of India Ltd.

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.