Power Grid to pump Rs 55,000 cr in transmission sector

New Delhi, Sept 4 (UNI) Country's biggest power transmission company Power Grid Corporation of India (PGCIL) will invest Rs 55,000 crore over the next five years in the transmission sector and is in process of setting up joint ventures with private players.

''Any independent power players (IPPs) can approach us for setting up a dedicated transmission system in the country.

Powergrid will own 26 per cent equity in the JV, while the majority shareholder will be the private partner,'' company's Chairman and Managing Director R P Singh said.

Powergrid will invest Rs 55,000 crore in the transmission sector in the 2007-2012 period, Mr Singh said, adding that the company has earmarked about Rs 8,500 crore out of this for setting up the transmission network for the ultra-mega power projects, two of which are already under development.

The company is managing the national grid with inter regional capacity of 14,100 MW, which will be enhanced to more than 37,000 MW by 2012.

UNI