State-owned utility company Power Grid Corporation of India Ltd (PGCIL) Ltd and the Ministry of Power today signed Memorandum of Understanding (MoU) for the year 2018-19 .
“The MoU includes various targets to be achieved by PGCIL during FY 2018-19. Capex target for the year has been set as Rs 25,000 crore. Other targets in the MoU inter-alia include parameters related to human resources, project management, R&D and innovation and other efficiency and operational performance parameters,” a power ministry statement said.
The MoU was signed by Ajay Kumar Bhalla, Secretary, the Ministry of Power and IS Jha, CMD, PGCIL.
PGCIL, a Navratna CPSE and the Central Transmission Utility (CTU) of the country, has been consistently receiving highest rating i e ‘Excellent’ under since signing of the first MoU in 1993-94, it added.
As on March 31, 2018, the company owns and operates over 148,800 ckt km of transmission lines, 236 EHV sub-stations with transformation capacity of more than 322,000 MVA. Availability of this gigantic transmission network has been consistently maintained over 99.5%.