New Delhi, Dec 31 : Joint Venture agreement between Bihar State Power (Holding) Company Limited (BSPHCL) & Power Grid Corporation of India Limited (POWERGRID), a Govt. of India Enterprise was signed on 29.12.2012 at Patna in presence of the Bijendra Prasad Yadav Energy Minister, R.N.Nayak,CMD,POWERGRID and P.K.Rai, Chairman, BSPHCL and other dignitaries. The name of the joint venture company will be Bihar Grid Company Ltd.
This JV Company will take up the works of strengthening and augmentation of transmission system in Bihar. It is expected that more than 6000 MW electricity will be available in the state from different sources by the end of 12th plan. The state – wide transmission of this bulk power shall require construction of new transmission grid sub-stations and transmission lines of 400/220/132 kV levels.
The salient features of the JV Company will be:-
- Both POWERGRID & BSPHCL shall have 50:50 share in the new company i.e, Bihar Grid Co. Ltd.
- The number of directors from both the companies shall be same in the new company.
- The transmission sector of the state will be benefitted with the enhanced Techno Managerial Expertise.
- The efforts of the State to bring it at par with the rest of the nation have received a fillip with this initiative.
POWERGRID is already implementing the final phases of Transmission works that were covered under Rashtriya Sam Vikas Yojana (RSVY) in Bihar at a cost of approximately Rs.3000 Cr. The current augmentation will take place in two more phases of Rs. 6300 Cr. & Rs. 10,000 Cr. so as to enable the State in achieving the projected national per capita consumption of 1275 units by 2016-17. The tariff will be determined by BERC.