PGCIL inks pact with power ministry for Rs 25,000-cr capex
New Delhi: State-run Power Grid Corporation of India (PGCIL) on Friday said that it has inked a pact with the ministry of power to incur capital expenditure of Rs 25,000 crore for the current fiscal.
"The memorandum of understanding (MoU) includes various targets to be achieved by Powergrid during 2018-19. Capex target for the year has been set as Rs 25,000 crore," a Power Grid statement said.
"Other targets in the MoU inter-alia include parameters related to human resources, project management, research & development, innovation and other efficiency and operational performance parameters," it added.
The MoU was signed by Ajay Kumar Bhalla, Secretary, Ministry of Power and I S Jha, Chairman and and Managing Director. As on March 31, 2018, the company owns and operates over 148,800 ckt. km. of transmission lines, 236 EHV sub-stations with transformation capacity of more than 322,000 MVA, it added.