PGCIL to call bids for $1 bn transmission system in Feb
Power Grid Corporation announces that next month it will invite bids for a $1 billion transmission system to evacuate electricity from the north-east to northern and western region.
By PTI |
MUMBAI: State-run Power Grid Corporation on Tuesday announced that next month it will invite bids for a $1 billion transmission system to evacuate electricity from the north-east to northern and western region.
"We are floating a tender in February for a $1 billion 800 kV HVDC transmission line under supplier credit to evacuate power from the north-east to northern and western parts," PGCIL Chairman R P Singh told reporters here.
The bidder for the project will raise $1 billion through supplier credit and the same will be repaid by the power transmission major.
The transmission system will be a multi-terminal set up of 6,000 MW capacity at Biswanath Chariali in Assam, Siliguri in West Bengal and Agra in Uttar Pradesh.
The state-run company will also be looking at raising $1-2 billion of debt through the World Bank without sovereign guarantee.
"Apart from $1.6 billion being raised through World Bank and Asian Development Bank (ADB) as debt with government guarantee, we are looking at raising a non-sovereign guarantee debt of a couple of billions," Singh said.
Of the $1.6 billion, Power Grid will be raising USD 600 million each from the World Bank and ADB in the first week of February.
"We are floating a tender in February for a $1 billion 800 kV HVDC transmission line under supplier credit to evacuate power from the north-east to northern and western parts," PGCIL Chairman R P Singh told reporters here.
The bidder for the project will raise $1 billion through supplier credit and the same will be repaid by the power transmission major.
The transmission system will be a multi-terminal set up of 6,000 MW capacity at Biswanath Chariali in Assam, Siliguri in West Bengal and Agra in Uttar Pradesh.
The state-run company will also be looking at raising $1-2 billion of debt through the World Bank without sovereign guarantee.
"Apart from $1.6 billion being raised through World Bank and Asian Development Bank (ADB) as debt with government guarantee, we are looking at raising a non-sovereign guarantee debt of a couple of billions," Singh said.
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Of the $1.6 billion, Power Grid will be raising USD 600 million each from the World Bank and ADB in the first week of February.
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