Power Grid Corporation of India Limited (POWERGRID) has approved the implementation of the North-Eastern Region Expansion Scheme-XXIII (NERES-XXIII) at an estimated cost of ₹209.38 crore. The project is designed to strengthen power transmission infrastructure in the North-Eastern region and will be completed within 30 months from the date of allocation.
Project Highlights
- Project Name: NERES-XXIII (North-Eastern Region Expansion Scheme)
- Estimated Cost: ₹209.38 crore
- Timeline: 30 months from allocation
- Objective: Enhance power transmission capacity in North-Eastern India
Strategic Significance
The approval underscores POWERGRID’s commitment to improving electricity infrastructure and supporting the growing energy needs of the North-East. By expanding its network, POWERGRID aims to ensure more reliable power supply and enable regional economic growth.
Corporate Decisions from AGM
The approval of NERES-XXIII coincided with POWERGRID’s 36th Annual General Meeting (AGM), which was held via video conferencing. Key decisions included:
- Adoption of financial statements
- Approval of interim and final dividends
- Appointment and reappointment of directors
- Authorization of auditor remuneration
- Approval to enhance borrowing and fundraising capacity
Financial Roadmap
To fuel its expansion plans, POWERGRID has received shareholder approval for:
- Enhanced borrowing limits: from ₹16,000 crore to ₹25,000 crore
- Fundraising authorization: up to ₹30,000 crore
These measures highlight the company’s strategy of continued investment in strengthening India’s power transmission network.
Summary
POWERGRID has greenlit the ₹209.38 crore NERES-XXIII project to expand transmission capacity in North-East India, with a completion target of 30 months. Alongside this, the company’s AGM approved higher borrowing limits and fundraising plans, reinforcing its long-term commitment to developing robust national power infrastructure.
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