State-owned power utility PowerGrid Corp today said its board has approved an investment of Rs 7,209.65 crore in different projects.
The board of the company approved an investment of Rs 1,310.85 crore for system strengthening in Wardha in Aurangabad corridor for independent power producers (IPP) projects in Chhatisgarh, the company said in a regulatory filing.
An investment of Rs 3,201.44 crore has been approved for transmission system for phase - I generation projects in Jharkhand and West Bengal.
The board also approved an investment of Rs 1,927.16 crore for transmission system associated with Krishnapatnam UMPP - Part B, Rs 324.33 crore for Krishnapatnam UMPP - Part C1 and Rs 97.36 crore for transmission system for connectivity of Thermal Powertech Corporation India.
Besides, the board also approved implementation of Enterprise Resource Planning (ERP) at Powergrid at an estimated cost of Rs 130.44 crore and establishment of fibre optic communication system in western region under master communication plan at an estimated cost of Rs 218.07 crore.
The transmission utility firm has reported 37% jump in net profit at Rs 809.23 crore for the quarter ended December 31.
