Power Grid Corporation of India approves investment plans of Rs 552 crore

State-run Power Grid Corporation of India (PGCIL) has approved investments proposals worth around 552 crore, the company said.

These investment proposals worth Rs 552 crore include capital expenditure for procurement of telecom equipment and associated power system for augmentation of telecom backbone and access network with an estimated cost of Rs 429.24 crore based on June 2021 price level with commissioning schedule of 24 months from the date of award, a BSE filing stated.

The company also approved the proposal for a regional system strengthening scheme to mitigate the overloading of 400 kV NP Kunta-Kolar SIC line at an estimated cost of Rs 122.71 crore including IDC of Rs 3.39 crore based on June 2021 price level scheduled to be commissioned by October, 2022. The filing stated that the PGCIL has also approved signing of “Joint Development Agreement” with Africa50 for development of transmission project in Kenya on PPP-JV Model and undertake initial expenditure to the extent of POWERGRID’s share for project development activities.

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