State-run transmission company Power Grid Corp Monday announced investments of over Rs.575 crore in two projects, one each in the eastern and the western regions of the country.
"Board of directors of the company has approved the investment approval for Eastern Region Strengthening Scheme at an estimated cost of Rs.196.58 crore, with a commissioning schedule of 24 months from the date of investment approval," the company said in a filing to the Bombay Stock Exchange.
The board has also approved investment of Rs.378.71 crore for setting up a transmission system associated with the Kakrapar atomic power project in Gujarat with a commissioning schedule of 32 months.
The company plans to invest more than Rs.61,000 crore over the next three fiscals, mostly by way of bonds and debentures, with only around Rs.7,500 crore expected to come through multilateral funding or external commercial borrowings.
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