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PGCIL to form JVC with Odisha Power Transmission Corporation

10 Dec 2012 Evaluate

State-owned, Power Grid Corporation of India (PGCIL) has received an approval for formation of a joint venture company (JVC) with Odisha Power Transmission Corporation for taking up Intra State Transmission projects in the state of Odisha. The board at its meeting held on December 06, 2012 has approved for the same.

The board has also approved for formation of JVC with Bihar State Power (Holding) Company for taking up Intra State Transmission projects in the state of Bihar. The scope of Intra State works is yet to be finalized. The JVCs to be formed may have a debt equity structure of 80:20 and will have a suitable payment security mechanism.

PGCIL is India’s principal electric power transmission company. It owns and operates most of India’s interstate and inter-regional electric power transmission systems with inter-regional power transfer capacity of about 20,800 MW and wheels nearly 45% of total power generated across India.

Power Grid Corp Share Price

318.05 5.80 (1.86%)
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