Power Grid Corporation of India will invest more than Rs 472 crore in two projects. The investment plans were approved by the transmission utility's board of directors at their meeting held on January 13, PGCIL said in a regulatory filing today.
The two projects are estimated to cost Rs 472.58 crore. An investment of Rs 374.63 crore will be made in 'Phase-I of Unified Real Time Dynamic State Measurement (URTDSM) Project', which is expected to be completed in 27 months.
Besides, the state-owned company will invest Rs 97.95 crore in 'Transmission System associated with contingency plan for evacuation of power from IL&FS (2x800 MW)'. This project is expected to be commissioned within 18 months from the date of investment approval.
Shares of the company rose nearly 1 per cent to Rs 98.30 in afternoon trade on the BSE.
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