PowerGrid Board approves Rs 1,481 cr investment in 5 projects

Central transmission utility PowerGrid Corporation said on Thursday its board has approved total investment of Rs 1,481 crore in its various projects to be commissioned in the next 2-3 years.

The Board of Directors of the company approved investments worth Rs 1,481 crore for five future power transmission projects, PowerGrid said in a regulatory filing to the Bombay Stock Exchange.

Investment proposals include installation of transmission equipment at an estimated cost of Rs 1,071.24 crore for the western region and setting up of transformers for Northern Region at an estimated cost of Rs 63.56 crore.

The Board also approved establishment of Fiber Optic Communication System in Northern Region at an estimated cost of Rs 197.40 crore, with commissioning schedule of 36 months from the date of investment approval.

The transmission system strengthening scheme for the northern region to be built at an estimated cost of Rs 148.76 crore, with commissioning schedule of 28 months from the date of investment approval, was also approved.

Shares of the company closed at Rs 155, up 0.65 per cent, on the BSE.