Coal news and updates

Powergrid commissions record Rs 30,300cr projects

Power Grid Corporation of India Limited (POWERGRID), a navratna PSU, commissioned transmission projects worth Rs 30,300 crore (unaudited) during 2015-16, which is the highest-ever commissioning achieved by the company, as per an official release.

The company also achieved the planned capex of Rs 22,500 crore (provisional).

Piyush Goyal, Union Minister of State (IC) for Power, Coal and New & Renewable Energy congratulated the company on its achievement.

In financial year 2015-16, tenders for transmission projects worth more than Rs 50,000 crore were released, setting a new benchmark for the highest-ever tenders in a single year by the company.

During the year, the company also awarded contracts for 270 packages worth Rs 22,000 crore and investment approvals for projects worth Rs 13,200 crore were undertaken.

For the nine month period (April 2015-December 2015), the company had reported total income of Rs 15,320 crore and posted a profit after tax of Rs 4,428 crore.