Companies

PFC sanctions Rs 1,351 cr financial aid to Bihar Grid Company

Our Bureau New Delhi | Updated on January 24, 2018

Power Finance Corporation Ltd (PFC) has sanctioned Rs 1,350.69-crore financial assistance to Bihar Grid Company Ltd (BGCL).

A company statement said that this is for the construction of 16 transmission lines, 4 associated sub-stations and 7-line bay extension works in Bihar. The estimated cost of the project is Rs 1,688.36 crore which is proposed to be funded in a debt-equity ratio of 80:20. The project is expected to be commissioned by July 2021.

BGCL is a joint venture company of Power Grid Corporation of India Ltd and Bihar State Power (Holding) Company Ltd incorporated to develop the intra-state transmission system in the State.

Published on January 24, 2018

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