PGCIL Gets Nod For Four Investment Proposal (10-Dec-2011)
Power Grid Corporation of India (PGCIL) has received nod for four investment proposal. The first investment approval is for western region system strengthening scheme - XIII at an estimated cost of Rs 49.93 crore, with commissioning schedule of 21 months from the date of investment approval.
While, the second investment approval is for transmission system for connectivity of Essar Power Gujarat at an estimated cost of Rs 552.44 crore, with commissioning schedule of 26 months from the date of investment approval.
The company has received third investment approval for common system associated with Coastal Energen and Ind-Barath Power (Madras) LTOA Generation projects In Tuticorin area Part-A at an estimated cost of Rs 90.44 crore, with commissioning schedule of 28 months from the date of investment approval.
Further, the fourth in-principle approval has been granted for equity participation in the proposed special purpose vehicle (SPV) being created by DoT for setting up of National Optical Fibre Network (NOFN) subject to PGCIL equity being limited presently up to 10% of the proposed paid up capital of Rs 100 crore. The board at its meeting held on December 05, 2011 has considered and approved the same.
PGCIL is India's principal electric power transmission company. It owns and operates most of India's interstate and inter-regional electric power transmission systems with inter-regional power transfer capacity of about 20,800 MW and wheels nearly 45% of total power generated across India.
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