Power Grid to Invest Rs 477 Crore in Two Transmission Projects
New Delhi: State-owned Power Grid Corp has received approval of its board for investing Rs 477.24 crore in two transmission projects.
The nod was given by the company's board of directors in a meeting held on August 4, the company said in a regulatory filing.
The utility will invest Rs 288.49 crore for 'System Strengthening - XX in Southern Regional Grid'. Another Rs 188.75 crore would be put in for 'Transmission System for Connectivity for NCC Power Projects Ltd (1,320 MW)'.
Both projects are expected to be commissioned in 30 months from the date of investment approval.
The company posted a rise in net profit at Rs 1,136.51 crore in the quarter ended June.
Shares in Power Grid, on Friday, ended at Rs 132.05 apiece on the BSE, down nearly 2 per cent from the previous close.
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