Central utility Power Grid Corporation of India today said its board has approved a total investment of Rs 885 crore in projects to strengthen transmission and augment transformation capacity.
The board gave nod for "investment approval for strengthening of transmission system in India for transfer of power from Mangdechhu hydroelectric Project in Bhutan at an estimated cost of Rs 808.63 crore, with a commissioning schedule of 22 months progressively from the date of investment approval...," the company said in a BSE filing.
The board of directors at its meeting yesterday gave "investment approval for augmentation of transformation capacity at Mainpuri and Sikar at an estimated cost of Rs 76.48 crore, with commissioning schedule of 24 months from the date of investment approval".
The nod was given for transfer of entire equity held by Power Grid Corporation in Power System Operation Corporation Ltd (POSOCO) to the central government at the agreed purchase consideration.
