Power Grid Corporation of India, the state-run electric power transmission company, said it has secured a loan of 80 billion yen (JPY) from the Japan Bank for International Cooperation.
The company said it signed the loan agreement on June 17, PTI reported.
The facility is intended to support financing of the Khavda-Nagpur HVDC transmission project and highlights strategic collaboration between Powergrid and JBIC to develop critical infrastructure for renewable energy integration, Power Grid Corporation of India said in a statement, according to the PTI report.
Tokyo-headquartered JBIC, Japan’s policy-based financial institution, is wholly owned by the Japanese Government.
Power Grid Corporation Share Price Performance
Power Grid Corporation share price has fallen 3% in three months, and has gained 8% in six months. The PSU stock has fallen 16% in two years, while it has jumped 49% in three years.
Power Grid Corporation stock price has delivered multibagger returns of 120% over the past five years.
At 10:20 AM, Power Grid Corporation share price was trading 0.11% higher at ₹285.70 apiece on the BSE.
