Power Grid inks pact with SBI for Rs. 5,000 crore loan

State-owned Power Grid Corporation said on Monday that it has entered into an agreement with State Bank of India (SBI) for Rs. 5,000 crore term loan for meeting its capital expenditure. In a BSE filing it said the company has entered into a term loan facility agreement for Rs5000 crore with State Bank of India (SBI) on Sunday for meeting “capital expenditure for expansion/ renovation and setting up various undergoing and new transmission and other projects in the company and in identified SPVs/JVs (special purpose vehicles/joint ventures) of the Company”. Power Grid has planned a capital expenditure of Rs. 25,000 crore in the next fiscal. Its budgeted capital expenditure for the current fiscal is also Rs. 25,000 crore. The company is mainly into power transmission and is a central transmission utility of the country.