As reported, the proposal has been sent to the Ministry of Finance through the Ministry of Power to negotiate with the multilateral lending agencies.
A senior company official is quoted by the Economic Times as saying: “The proposals for raising $750m from World Bank and $1 billion from ADB have been sent to Finance Ministry by the Ministry of Power…now they (Finance Ministry) would negotiate with the World Bank and ADB.”
PowerGrid plans to invest INR550 billion to build transmission lines in India during the current XIth Five Year Plan (2007-12). The transmission utility is also planning to boost its transmission capacity to 23,400MW in the current financial year (2009-10) from the existing 19,800MW and enhance it to 37,000MW within the plan period.
