Power Grid approves investments in five new projects
- Livemint " target="_blank">Livemint
- April 22, 2015
Mumbai: State-run Power Grid Corp. of India Ltd on Tuesday said its board has approved six new investment plans worth Rs.5,500 crore.
In a meeting held on 17 April, the board of directors gave investment approvals to two projects involving implementation of two green energy corridors, three communication investment projects and implementation of interconnection between India and Bangladesh.
The two green energy corridor projects are likely to costRs.1,479 crore and Rs.3,705 crore and would be completed in 24 and 36 months, respectively.
Fresh investment in the power sector in the last two years has remained muted. But in the last few months, there has been an uptick in investments, mostly by public sector companies like Power Grid.
Shares of Power Grid closed at Rs.148.50 a share on Tuesday, flat from its previous close of Rs.149.20 a share.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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