Power Grid may gain as board approves investment proposals.

Power Grid Corporation of India said its board has approved a total investment of Rs. 2066.45 crore in four separate projects.

The board approved creation of 400/220 kilovolt (kV) substations in NCT of Delhi during 12th Plan Period (Part-A)' at an estimated cost of Rs. 1394.52 crore, with commissioning schedule of 26 months from the date of investment approval.

The board also approved Sub-Station extension works associated with Eastern Region Strengthening Scheme - VII (ERSS-VII)' at an estimated cost of Rs. 71.35 crore, with commissioning schedule of 24 months progressively from the date of investment approval with best efforts matching with the completion of associated transmission lines being implemented under Tariff Based Competitive Bidding.

Further, the board approved Substation Works associated with Hyderabad (Maheshwaram) Pooling Station' at an estimated cost of Rs 550.06 crore, with commissioning schedule of 36 months progressively from the date of investment approval.

The board also approved transmission system associated with Solapur STPP (2x660MW) Part-A project of NTPC (Part-AY at an estimated cost of Rs. 50.52 crore, with commissioning schedule of 24 months from the date of investment approval.

Idea Cellular and Yes Bank replace DLF and Jindal Steel & Power as constituents in the 50-unit CNX Nifty index today, 27 March 2015.


BS