PowerGrid Corporation of India, the country's largest power transmission utility, has secured an order worth Rs 1,033 crore from Punjab State Electricity Board (PSEB).

The company has informed that it has signed a bilateral agreement on Friday, with PSEB for turnkey execution of 400 circuit Kms of 400 kV D/C transmission lines and four 400 kV/220kV substations at an estimated cost of Rs 1,033 crore.  
 
The project is scheduled to be completed in phases from October 2011 to February 2012.  

As per the agreement, PowerGrid will execute three 400kV/220kV substations at Muktsar, Makhu, Nakodar and another 2X500/3X315MVA sub-station at Dhuri for evacuation of Power from PSEB's Talwandi Sabo thermal power station.  
 
The scope of work includes design, engineering, tendering, evaluation, procurement, supervision of erection, project mangement and testing and commissioning of the project.  
 
The company claims that this is one of the largest consultancy assignments bagged by PowerGrid from PSEB.  

Apart from latest order, the company is expected to sign another agreement with PSEB under Phase-II for turnkey execution of transmission system for evacuation of power from its Rajpura Thermal Power Station.

The shares of PowerGrid Corporation closed today at Rs 115, up 3% compared to previous close of Rs 112.