PowerGrid commissions record Rs 30,300-crore projects In FY16
Posted on: 06 Apr 2016 18:18:13
06 April 2016 Current Affairs: The Power Grid Corporation of India (PowerGrid) has commissioned a record Rs 30,300 crore projects in the just-concluded fiscal and also achieved a planned capex of Rs 22,500 crore.PowerGrid, a Navratna company under the Ministry of Power, commissioned transmission projects worth Rs 30,300 crore (unaudited) during 2015-16, which is the highest-ever commissioning achieved by the company in its history.The company achieved the planned capex of Rs 22,500 crore (provisional).adding that Power Minister Piyush Goyal congratulated PowerGrid on its performance.The inter-connection with Nepal -- Muzaffarpur (Bihar, India) - Dhalkebar (Nepal) transmission line -- was jointly dedicated by Prime Minister Narendra Modi and Prime Minister of Nepal, KP Sharma Oli via tele-inauguration during the latter's visit to India in February 2016.The second inter-connection with Bangladesh -- Surjyamaninagar (Tripura, India) - Comilla (Bangladesh) transmission line -- was jointly dedicated by Modi and Prime Minister of Bangladesh Sheikh Hasina through video-conferencing.During 2015-16, tenders for transmission projects worth more than Rs 50,000 crore were released, setting a new benchmark for highest-ever tenders in a single year by the company.During the year, the company also awarded contracts for 270 packages worth Rs 22,000 crore and investment approvals for projects worth Rs 13,200 crore were undertaken.For the nine months (April-December 2015), the company had reported a total income of Rs 15,320 crore and posted a profit after tax of Rs 4,428 crore.
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