PowerGrid`s FY17 capex may surpass current year`s Rs 22,500 cr

MUMBAI. PowerGrid Corporation  of India  yesterday indicated that its annual capex for  the fiscal 2016-17 will be higher compared to Rs 22,500 crore  for 2015-16. This is largely due to the Centre`s plan to pursue  transmission projects worth Rs 1,00,000 crore to evacuate power  from the upcoming coal and hydro and also from renewable  projects.

 

The company CMD ,  Shri I S Jha told  media persons  that  ``PowerGrid will meet its capex target of Rs 22,500 crore for  the current fiscal. For the nine months capex of Rs 16,891  crore has been done.

 

He said that the company`s net worth stood at Rs 42,465 crore  and capital work in progress is of the order of Rs 46,000 crore  as on December 2015.