Power Grid looking for new joint ventures: Razdan

Mumbai, Aug 28 (UNI) Making a firm commitment of completing the joint venture (JV) projects, which Power Grid Corporation has taken up within the stipulated period of three years, Power joint secretary Anil Razdan today said the Corporation was looking for more joint ventures.

Addressing a press conference in connection with the forthcoming initial public offering (IPO) of the Power Grid Corporation of India Ltd (PCIL), Mr Razdan said the PCIL has made an investment of Rs 300 crore in at least four JVs including Tala Transmission (Rs 229 crore).

Mr Razdan expressed confidence that all the existing JVs, taken up by the PCIL, would be completed in the next three years.

''In fact, we are looking for more and more joint venture projects with private partners,'' Mr Razdan said.

Mr Razdan however, did not disclose the fund earmarked for the projects by the PCIL, but added that there would be substantial funds for the JVs.

UNI