Power Grid to spend Rs 550 bn to hike capacity

Written by Reuters | Mumbai, August 28: | Updated: Aug 28 2008, 21:00pm hrs
State-run transmission utility Power Grid Corp Ltd will spend Rs 550 billion in the next five years to increase capacity, Chairman and Managing Director, S K Chaturvedi said.

The investment will increase inter-regional transmission capacity from 17,000 mega watt to 37,000 mega watt, Chaturvedi said.

The company is also looking at joint ventures to increase its presence in the Middle East and Africa, he said.

The company will sign a $400 million loan from the World Bank by next week and then will go for a $200 million loan from the Asian Development Bank by the end of September, he added.