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Home News Power Sector News PGCIL bags 1600 crore Jharkhand transmission project

PGCIL bags 1600 crore Jharkhand transmission project

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TransmissionThe country's largest transmission utility , PowerGrid Corporation of India, has won a Rs 1,600-crore project to develop the transmission system of Jharkhand. "The company is expected to sign an agreement with Jharkhand State Electricity Board in the next few weeks," a Power-Grid official said. "The project is expected to come up in the next 18 months."

PowerGrid would set up 1,000 kms of transmission lines and 10 sub-stations in the state. The project aims to reduce the state's transmission losses while facilitating power transmission. State-owned PowerGrid has earmarked a capital expenditure of . 12,000 crore for the current fiscal and it expects to raise this to . 18,000 crore by the next fiscal.

The transmission business contributes almost 90% of PowerGrid's revenue at present. The company expects its telecom and consultancy businesses to increase their share in the total revenue in the near future.

Power Grid is also planning to expand its footprint in West Asia and North Africa. It has already bid for projects in several member-nations of the South Asian Association for Regional Cooperation (Saarc), besides Oman, Kenya and Nigeria.

"Our international business may touch revenues of . 30 crore this fiscal, and we expect it to increase in the forthcoming years," the official added. The company is also providing engineering and consultancy services in Bangladesh and Sri Lanka.


Source- Economic Times

 

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