PGCIL gets nod for huge investments

New Delhi: State-run transmission major Power Grid Corporation of India (PGCIL) said that its board has approved investment proposals worth Rs 9,436 crore.

These include parts of transmission networks for the northern and eastern regions of the country at a cost of Rs 7,075 crore, and a supplementary transmission system for the Maithon Right Banks project costing Rs 2,361 crore. The two projects are to be completed in 48 months.

Power Grid also said it has signed a shareholder agreement to take 26 per cent stake in Teesta Valley Power Transmission Ltd, a company that will set up a transmission system to evacuate power for the 1,200 MW Teesta Urja hydel power project coming up in Sikkim.