PowerGrid to invest Rs. 5,500 cr.

Power Grid Corporation's board has approved investments of Rs. 5,500 crore for upgrading its network in the next four years, the company said in a filing to the stock exchanges recently.

'The board of directors approved strengthening the transmission corridor for independent power producers in Chhattisgarh at an estimated cost of Rs. 5,151.37 crore,' it said in a notice to the BSE.

The board also approved an investment of Rs. 400 crore for upgradation of transmission systems associated with the Lara thermal power project of NTPC, with a commissioning schedule of 34 months from the date of investment approval. Recently, PowerGrid's shares closed 0.30 per cent lower on the BSE at Rs. 131.65.


HBL