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Power Grid Corporation of India Ltd’s board of directors has accorded its approval for the formation of an equal joint venture company with Rashtriya Ispat Nigam Limited for setting up a facility for manufacturing Transmission Line Towers & Tower Parts at Vishakhapatnam.
PGCIL and RINL are “Navaratna” Central Public Sector Enterprises. PGCIL is India’s largest Electric Power Transmission Utility. Besides power transmission, it has two other lines of business – telecom and consultancy, RINL is India’s first shore based integrated steel plant.
According to PGCIL’s notice to the BSE, its board of directors at its meeting held on September 17 also accorded its approval for investment for 'Procurement of Telecom Equipment , DCPS and Air-Conditioning System for Augmentation of Telecom Backbone and Access Network’ at an estimated cost of Rs. 331.88 Crore, with commissioning schedule of 24 months from the date of award.
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