National Grid Bags Mangalore Project
Britains National Grid Company yesterday said the Karnataka government had approved its power transmission joint venture with the Karnataka State Electricity Board.
The Karnataka cabinet has cleared the joint venture between the Karnataka State Electricity Board (KSEB) and the National Grid Co for the Mangalore transmission project which will cost around Rs 650 crore ($166.67 million), it said in a statement.
The Mangalore transmission project is the first private sector electricity transmission project and represents a major expansion of National Grids commitment to India, the statement quoted companys country director Roger Woods as saying.
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The 250 km transmission line links Mangalore with Mysore.
The joint venture company will finance, build, own and maintain transmission facilities for evacuating power from the Mangalore area.
National Grid owns and operates electricity transmission system in England and Wales.