In order to ensure uninterrupted power supply across the country, the transmission utility Power Grid Corporation has recently sanctioned Rs 5,500cr funds for upgrading its entire networks in the next four years. In their decision, the board of directors of the Company approved strengthening the transmission corridor for independent power producers in Chhattisgarh at an estimated cost of Rs 5,151.37cr, said official sources, claiming that the commissioning schedule of the transmission project is 45 months from the date of investment approval. In addition, the board also approved investment for upgrade of the transmission system associated with Lara thermal power project of NTPC at an estimated cost of Rs 400.47cr, with commissioning schedule of 34 months from the date of investment approval. The state-owned firm plans to invest more than Rs 61,000cr in the next three financial years. Of the total amount, the company may raise Rs 37,641cr through bonds or debentures and Rs 7,770cr via multilateral funding or external commercial borrowings. The rest is expected to come from internal accruals.
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