PGCIL to invest Rs 655 cr Q4FY08, expects Rs 8,500 capex

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New Delhi, Jan 13 (UNI) State-run Power Grid Corporation of India Ltd (PGCIL) said it plans to invest Rs 655 crore in various projects during the last quarter of the current fiscal, and expects capex budget of about Rs 8,500 cr for FY08-09.

''Out of Rs 1,990 crore IPO proceeds, we expect about Rs 655 crore to be utilised during last quarter of the current financial year. We also expect capital expenditure budget for FY 2008-09 to be about Rs 8,500 crore,'' the company said in a statement.

The transmission giant has already utilised Rs 432 crore till December 2007 for the identified projects.

PGCIL said the capex budget may be more depending up on the progress of generation projects.

The company said two projects identified for IPO purpose for Bina-Nagda and Sipat-I (Part) worth Rs 849 crore have already been commissioned.

It utilised about Rs 4,500 crore, 70 per cent of Rs 6,500 crore budget capital expenditure of FY2007-08 till December last year.

The company is in talks with the World Bank and ADB for loan assistance of 600 million dollars each which is expected to be completed by February this year, the statement added.

The company is also looking forward to getting into entertainment business, tower business, data centre business, gigabit knowledge network.


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