PowerGrid skeleton to spend Rs 22,500 cr for enlargement skeleton in FY16

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Mumbai: State-run delivery application Power Grid Corporation (PGCIL) is formulation to deposit Rs 22,500 crore this mercantile to fuel a enlargement plans.

Representational image. ReutersRepresentational image. Reuters

Representational image. Reuters

“We are really good on lane on a capex plans. This fiscal, we have earmarked an output of Rs 22,500 crore for FY16, that we will use for expansion,” company’s authority and handling executive RN Nayak told reporters in Mumbai today.

He serve pronounced a association has already deployed Rs 4,000 crore for several projects in a final dual months.

The association has earmarked a collateral output of adult to Rs 1 lakh crore for 5 years, finale 2016-17.

“Out of a capex for FY16, we have already spent Rs 4,000 crore in a final dual months for endeavour several projects. We devise to say 70:30 debt equity ratio,” Nayak said.

The association has also designed to lift adult to Rs 12,000 crore by domestic holds during a year.

“This is a unchanging phenomenon. We keep lifting supports as and when we need for two-three months. We have already lifted Rs 3,000 crore. We will lift a remaining in tranches as and when a markets and rates of seductiveness are favourable,” company’s Director (Finance) RT Agarwal said.

He pronounced a association has totally utilized a Rs 5,300-crore account that it lifted final year by follow-on open offer (FPO).

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The Navratna association has reported a 20 percent arise in a standalone net distinction during Rs 1,412.48 crore for a entertain finished Mar 31 opposite Rs 1175.84 crore final fiscal.

Its sum income for a entertain increasing to Rs 4,703.22 crore from Rs 3,986.28 crore in a analogous duration of prior year.

For a year, a association reported a standalone net distinction of Rs 4,979.17 crore and Rs 17,177.23 crore in revenues opposite Rs 4,497.42 crore and Rs 15,230.28 crore in FY13-14.

PGCIL now owns and operates delivery network of about 1,15,600 ckm and 192 additional high voltage double stream (EHVAC) and high voltage double stream (HVAC) substations carrying mutation ability of some-more than 2,31,000 MVA.

PTI

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