Power Grid plans 20k cr capex, to expand overseas

Moneycontrol Bureau

Power Grid Corporation of India has earmarked Rs 20,000 crore capex for financial year 2013 of which 80% would be via debt and the remaining would be through equity. The state-run power transmission company has plans to expand in global geographies

"Being the largest transmission utility in the country, we are working in seven countries including Afghanistan, Bhutan, Bangladesh, Dubai and Nigeria and are venturing into countries like Vietnam, Ethiopia, Kenya and Tajakistan for construction of transmission lines and sub-stations," said R.N Nayak, chairman and managing director of Power Grid while addressing a press conference here in Mumbai.

Simultaneously, the utility firm wants to expand its presence in the telecom space in which it already has a network of about 25,000 kms in metro cities and towns offering value added services to prime telecom companies and government organisations. With a view to opening up a new stream of revenue from the telecom business, the company has entered into an infrastructure sharing agreement with telecom infrastructure service providers.

Among the telecom players, Power Grid is the only utility in the country having overhead optic fibre network using OPGW (Optical Ground Wire) on power transmission lines. "We have an all India broad band telecom network of about 25000 kms which is likely to be doubled in 2-3 years," said a Power Grid official.

Also read: Power Grid plans to raise Rs 10,000 cr in FY13 via bonds

Meanwhile, the company has reported a 37% increase in net profit at Rs 1,032 crore,YoY for the March quarter of FY12. Total income also grew 32% to Rs 3,409 crore,YoY. 

shaheen.mansuri@network18online.com