PowerGrid board okays investment of Rs 2.5K cr for transmission project in Rajasthan

State-run Power Grid Corporation on Tuesday said the company's board has approved an investment of Rs 2,578.47 crore for an electricity transmission project for a solar energy zone in Rajasthan.

The board of directors in their meeting held on August 27, 2019 has accorded investment approval for transmission system for solar energy zones in Rajasthan at an estimated cost of Rs 2,578.47 crore with commissioning schedule as December 2020, a BSE filing said.

The board has also given its approval for appointment of K S R Murty as chief financial officer (CFO) of the company from August 27, 2019, a separate BSE filing said.

Murty, a bachelors degree holder in electrical engineering and cost and management accountant, joined NTPC in 1984 and has worked in finance department in NTPC till 1991. After that he joined PowerGrid and worked for past 28 years in various functions of finance including budget, resource mobilisation, financial concurrence, treasury management, books of accounts etc.

Murty is not related to the directors or key managerial personnel of the company and is also not debarred from holding the office of CFO by virtue of any SEBI order or any other such authority, it added.