Power Grid to invest Rs 2,820 crore in four projects

NEW DELHI: State-owned Power Grid Corp today said its board has investments worth Rs 2,820.04 crore for four projects.

The power transmission major would invest Rs 1,364.52 crore in "Eastern Region Strengthening Scheme-V" project, with commissioning expected in 30 months, according to a regulatory filing.

Besides, the company would pump in Rs 1,315.90 crore in "Inter-Regional System Strengthening Scheme in WR and NR (Part A)" project, which is anticipated to be completed in 36 months.

As per the filing, Power Grid would shell out Rs 76.30 crore for procurement of telecom equipment, operation support system and other telecom network requirements among others.

This project is estimated to be ready in one year from the date of award.

Further, the company would be developing a "Transmission System for Solapur STPP (2x660 MW) at an estimated cost of Rs 63.32 crore with a commissioning schedule of 24 months from the date of investment".

These investment proposals were approved by the company's board during their meeting held on October 23.

Shares of the firm closed flat at Rs 100.60 on the BSE.