Power Grid Corporation of India has announced 75.63 billion investment over the next four years to establish transmission lines to supply power, generated from the Sasan power plant to the electricity grid. At its meeting, held on November 18, 2008, it has accorded investment approval to the following projects:

Investment approval for Transmission System associated with Sasan Ultra Mega Power Project (UMPP)’ at an estimated cost of Rs70.31 billion (2nd quarter, 2008 price level) with commissioning schedule of 48 months from the date of investment approval.

Investment approval for ‘System Strengthening in Northern Region Grid for Karcham Wangtoo HEP’ at an estimated cost of Rs3.28 billion (2nd quarter, 2008 price level) with commissioning schedule of 33 months from the date of investment approval.

Investment approval for ‘Transmission System associated with Farakka-III at an estimated cost of Rs 2.04 billion (2nd quarter, 2008 price level) with commissioning schedule of 30 months from the date of investment approval.

Shares of Power Grid closed down Rs 1.3, or 1.81%, at Rs 70. Indian Stock Markets closed with huge loss today as selling continued due to weak global cues. BSE Sensex closed lower than its lowest closing in October, 2008.