Latest News | PGCIL Approves Investment Plans of Rs 552 Cr

New Delhi, Nov 10 (PTI) State-run Power Grid Corporation of India (PGCIL) has approved investments proposals worth around 552 crore, the company said on Wednesday.

Also Read | Samsung Galaxy S21 FE Reportedly Spotted on Geekbench.

These investment proposals worth Rs 552 crore include capital expenditure for procurement of telecom equipment and associated power system for augmentation of telecom backbone and access network with an estimated cost of Rs 429.24 crore based on June 2021 price level with commissioning schedule of 24 months from the date of award, a BSE filing stated.

Also Read | Twitter Launches Blue Subscription Service in the US and New Zealand on iOS, Android & Web: Report.

The company also approved the proposal for a regional system strengthening scheme to mitigate the overloading of 400 kV NP Kunta-Kolar SIC line at an estimated cost of Rs 122.71 crore including IDC of Rs 3.39 crore based on June 2021 price level scheduled to be commissioned by October, 2022.

The filing stated that the PGCIL has also approved signing of "Joint Development Agreement" with Africa50 for development of transmission project in Kenya on PPP-JV Model and undertake initial expenditure to the extent of POWERGRID's share for project development activities.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)