Power Grid Corporation’s board has approved investments of ₹5,500 crore for upgrading its network in the next four years, the company said in a filing to the stock exchanges on Monday.
“The board of directors approved strengthening the transmission corridor for independent power producers in Chhattisgarh at an estimated cost of ₹5,151.37 crore,” it said in a notice to the BSE.
The board also approved an investment of ₹400 crore for upgradation of transmission systems associated with the Lara thermal power project of NTPC, with a commissioning schedule of 34 months from the date of investment approval. On Monday, PowerGrid’s shares closed 0.30 per cent lower on the BSE at ₹131.65.