New Delhi, June 02 : Power Grid Corporation of India said its board has approved investment proposals worth Rs 3,422.40 crore. The proposals were approved at meeting of the company’s board on May 29, it said in a regulatory filing.
The company would pump in Rs 1,909.24 crore for certain projects in Srikakularm and the work is anticipated to be over within 36 months from the date of investment approval. Power Grid would invest Rs 1,263.26 crore for system strengthening of “XVIII in South Regional Grid” and the work is expected to be completed in 29 months from the date of investment nod.
The PGCIL would put in Rs 174.16 crore for fibre optic communication system for central sector sub stations and generating stations in Southern region. The project is expected to be commissioned within 30 months from the investment approval date.Further, the firm would invest Rs 75.74 crore related to work at its sub station for Raichur – Sholapur transmission. The same is anticipated to be completed within 21 months from date of investment approval.