New Delhi: State-run PowerGrid would invest Rs1,600 crore in the next 2-3 years to strengthen transmission network in the country.
“PowerGrid has received investment approvals of Rs1,603.16 crore from its board of directors for system strengthening of the transmission lines,” the company informed the Bombay Stock Exchange (BSE).
The company would invest Rs276.61 crore for the transmission network in the south regional grid and will commission it in the next 28 months (over two years), it said.
PowerGrid would pump in Rs1,216.83 crore for building a sound transmission network for the 4,000 MW Sasan (MP) and Mundra (Gujarat) ultra mega power projects, it added.
The projects are scheduled for commissioning in 32 months from now.
It has also received the investment approval for transmission system strengthening of Rs109.72 crore northern region lines.
Shares of the company were trading at Rs105.15, up 0.67% on the BSE.