Power Grid to form JV for transmission projects worth Rs 10k cr in Rajasthan

New Delhi: Power Grid on Monday said it has signed an MoU with Rajasthan Rajya Vidyut Prasaran Nigam Ltd (RRVPNL) to form a joint venture to undertake intra-state transmission projects worth Rs 10,000 crore.

The proposed JV shall undertake the projects in Rajasthan in a phased manner, a BSE filing by Power Grid Corporation of India stated. The Memorandum of Understanding (MoU) was signed on March 10, 2024.

Public Sector's voice PSU Watch is now on Whatsapp Channels. Click here to join

According to the filing, Power Grid will have 74 percent stake in the JV while RRVPNL will have 26 percent stake.

Power Grid is a central public sector undertaking under administrative control of Ministry of Power and engaged mainly in transmission of bulk power across different states.

RRVPNL is a public sector undertaking in Rajasthan.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)