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Market Chatter: Japanese Investors Led by JBIC to Extend Up To 80 Billion Yen Financing for Power Grid Project in India

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State-backed Japan Bank of International Cooperation, along with other investors, including Sumitomo Mitsui Banking Corp, is said to be extending financing up to 80 billion yen to develop a power grid in India, according to a Nikkei report on Thursday quoting sources.

As per the report, the Japanese investors will provide syndicated financing for a high-voltage direct current (HDVC) transmission project being developed by the Power Grid Corporation of India (NSE:POWERGRID, BOM:532898).

The project is expected to start operations in 2029.

The announcement for the project is expected to be made on Thursday during Japanese Prime Minister Sanae Takaichi's visit to India and meeting with her counterpart, Indian Prime Minister Narendra Modi.

Japan Bank of International Cooperation and Sumitomo Mitsui Banking did not immediately respond to' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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