Patna , May 02 (UNI) Public sector Power Grid corporation of India Limited(Powergrid)has been conferred the status of a Navratna company, a benchmark of excellence for successful PSEs.
As a Navratna PSE, Powergrid Board of Directors would now have the financial autonomy to take decisions on investments up to Rs 1000 crores or 15 per cent of its networth, a company release here tonight said.
Powergrid Corporation which has emerged as one of the largest and best managed transmission utilities in the world,is presently engaged in construction,operation and maintenance of various inter- state power transmission systems and operations of National and Regional Power Grids.
During the last fiscal(2007-08)Powergrid operated around 67,000 ckt kms of transmission lines along with 111 sub-stations with transformation capicity of more than 73000 MVA.
During the same period the company has recorded an impressive financial performance achieving a turnover of Rs 4,700 crores (Provisional) and net profit of Rs 1,420 crores (provisional)as compared to Rs 4,082 crores and Rs 1,229 crores respectively during the previous financial year.
The eleventh plan Powergrid envisaged an investment of about Rs 55,000 crores for further developing the National Grid including inter-regional transmission systems,system strengthening schemes and transmission system under central sector and Ultra Mega Power Projects, the release added.
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