Power Grid to invest over Rs 61,000 cr in next 3 yrs

NHPC also plans to invest Rs 6070.10 crore in the next three fiscals

State-owned Power Grid Corp plans to invest more than Rs 61,000 crore in the next three financial years, with a significant chunk of funds to be raised by way of bonds and debentures.

Power Grid Corporation of India Ltd (PGCIL) has investment plans worth Rs 61,674 crore for the next three financial years, the Parliament was informed today.

Out of the total amount, Rs 37,641 crore would be raised through bonds/debentures while Rs 7,770 crore would be through multilateral funding/ECB/supplier's credit, Power Minister Jyotiraditya Scindia informed the Rajya Sabha in a written reply.

The remaining amount would come from internal accruals.

In the next financial year (2014-15), Power Grid would invest Rs 20,000 crore.

Further, investments worth Rs 21,000 crore and Rs 20,674 crore would be made during 2015-16 and 2016-17 periods.

At the end of March 2013, Power Grid had reserves and cash surplus to the tune of Rs 21,583.68 crore.

Meanwhile, hydro power producer NHPC plans to invest Rs 6070.10 crore in the next three fiscals.