Power Grid Acquires Medinipur-Jeerut Transmission Limited

Power Grid Corporation of India Limited has acquired Medinipur–Jeerut Transmission Limited, the project SPV to establish transmission system for “765kV strengthening in eastern region (ERSS-XVIII)”, on build, own, operate and maintain (BOOM) basis from PFC Consulting Limited.

The transmission system includes establishment of 765kV and 400kV transmission lines, including establishment of two new 765/400kV substations. The transmission system is to be progressively constructed over a period of 40 months. Power Grid's stock is trading flat at Rs 196.75 per share in Wednesday’s trading session.

BSE Power index is trading higher by 0.36% at 2259 levels. Tata Power is the biggest contributor to the index gains. The stock is trading higher by 1.75% at Rs 90.35 per share.

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