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This is an archive article published on December 3, 2010

PowerGrid takes axe to capex estimate

PowerGrid Corp said it has lowered its capital expenditure estimate to Rs 11,900 crore.

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Central Transmission Utility PowerGrid Corp said it has lowered its capital expenditure estimate to Rs 11,900 crore for the current fiscal,mainly due to delay in commissioning of power generation projects in the country.

Board of Directors of the Company during their meeting have revised the capital budget estimate of Rs 12,900 crore for the financial year 2010-11 to Rs 11,900 crore,PowerGrid said in a statement to the Bombay Stock Exchange BSE.

8220;This has been done keeping in view the delay in schedules of some generation projects including NHPC8217;s Subhansiri hydro-electric power project in Assam,8221; the statement added.

Subansiri Lower hydro-electric Project 2,000 MW is a run-of-river scheme on river Subansiri. The Project is located near North Lakhimpur on the border of Assam and Aruncachal Pradesh.

PowerGrid Corp is the monopoly state-run transmission company which builds transmission network for the power generation projects for carrying power.

Shares of the company closed at Rs 99.80,up 0.81 per cent on the BSE.

 

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