The board of directors of Power Grid Corporation of India Ltd (PGCIL) has accorded investment approval to Eastern Region Strengthening Scheme – XXIII.
According to a stock exchange filing, the board of PGCIL, in its meeting held on July 11, 2020, has accorded investment approval to the Eastern Region Strengthening Scheme XXIII (ERSS XXIII) at an estimated cost of Rs.239.89 crore.
The commissioning schedule of this project will be 11 months from the date of investment approval, which works out to around mid-August 2021.
It may be mentioned that PGCIL has pegged its capital expenditure for the year much lower at Rs.10,500 crore, as against Rs.15,313 crore in FY20.
As of March 31, 2020, PGCIL had projects worth around Rs.52,000 crore in hand, according to the company’s investor presentation promulgated on June 22, 2020, in connection with the company’s annual results for FY20.
These works on hand included Rs.34,000 crore of ongoing projects and Rs.6,000 crore from new projects. The remaining Rs.12,000 crore came from TBCB (tariff-based competitive bidding) projects.
As of March 31, 2020, PGCIL (along with its subsidiaries and JVs) owned and operated 163,222 ckm of transmission lines along with 248 substations with a combined transformation capacity of 409,898 MVA. The interregional transfer capacity of PGCIL, as of given date, was 87,090 mw that accounted for 85 per cent of India’s overall interregional transmission capacity.
(Featured photograph for representation only)
