Power Grid to Invest over Rs 1,000 Crore in Few Years

New Delhi: State-run Power Grid will invest over Rs 1,000 crore in the next few years for execution of two projects including creating transmission network in Anantpur district of Andhra Pradesh.

"The Board of Power Grid Corp has approved investment for transmission system for Ultra Mega Solar Park in Anantpur district, Andhra Pradesh- Part A (Phase-1) at an estimated cost of 312.94 crore, with commissioning schedule of 12 months," the company said in a BSE filing.

According to the filing, these investment decisions were taken in a board meeting held on 11.

The has board has also approved an investment of Rs 780.33 crore for creation of 400/220kV substations in Delhi during 12th Plan Period.

The company's board has also approved code of practices & procedures for fair disclosure of unpublished price sensitive information and conduct for regulating, monitoring & reporting of trading by insiders of Power Grid Corp. It will be effective from May 15, 2015.

Shares of Power Grid closed at Rs 139.50 apiece, down 1.03 per cent on the BSE from its previous close.