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PowerGrid Corporation of India to form JVC with RINL

29 May 2015 Evaluate

PowerGrid Corporation of India (PGCIL) and RINL, have inked shareholders agreement on May 27, 2015 to form a Joint Venture Company (JVC) ‘RINL-POWERGRID TLT’ with 50:50 shareholding. The new JVC will set up a Transmission Line Tower (TLT) manufacturing unit in Visakhapatnam.

The Transmission Tower Unit with an annual capacity of 120,000 tonnes will be set up with an investment of around Rs 330 crore in the first phase. In the second phase, it is planned to have rolling mills which will enhance the total capacity to 180,000 tonnes per annum of transmission line tower parts. The JV will have benefit to procure black angles and semis from RINL and ready market for the finished products. RINL is expected to supply around 2 lakh tonnes of Angles/ Semis at the completion of the second phase of the project.

MECON, the Consultant has already prepared the Techno Economic Feasibility Report. Land has already been earmarked for the project by RINL. 


Power Grid Corp Share Price

319.60 1.55 (0.49%)
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