PowerGrid board approves investments of Rs 733.32 cr

The Dollar Business Bureau

The Power Grid Corp on Friday said it has approved three investment proposals for power transmission related projects worth Rs.733.32 crore.

“The board accorded approval to three investment proposals totalling Rs 733.32 crore in its meeting held today,” the company said in an announcement.

The board approved 'provision of STATCOM at Nalagarh and Lucknow in Northern region’ at an approximate cost of Rs 431.89 crore. These projects have a commissioning schedule of 30 months from the date of investment approval'.

 It has also given a nod to invest in provision series reactor in the Northern region. The project is estimated to cost Rs.177.52 crore, with commissioning schedule of 30 months from the date of investment'.

“The other approval is for the 'Northern Region System Strengthening Scheme (NRSSS) XXXV at an estimated cost of Rs 123.91 crore with commissioning schedule of 24 months from the date of investment approval,” it said.