PowerGrid says it fully utilised JPY 22 billion loan from SMBC
New Delhi: State-run utility Power Grid Corporation on Tuesday said it has fully drawn a 22 billion Japanese Yen (JPY) loan and utilised it to finance capital expenditure for its ongoing and new projects.
“Power Grid has fully drawn the loan and utilised the proceeds toward part-financing of its capital expenditure for its ongoing and new projects,” a company statement said. According to the statement, Power Grid had entered into a JPY 22-billion syndicated term loan facility agreement with Sumitomo Mitsui Banking Corporation’s (SMBC) Singapore branch on December 10, 2018.
