Power Grid planning Rs 40,000 cr undersea interconnection with Middle East

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Power Grid planning Rs 40,000 cr undersea interconnection with Middle East - Business Standard

Quick Summary:

The company plans to invest Rs 18,000 crore this fiscal year, which will help accelerate the growth rate going forward, Tyagi said, explaining that as projects become older, the earnings from transmission projects go down and the company has to keep commissioning new projects to have higher revenue growths.

After the soft June quarter, which witnessed revenues being almost flat, the company sees the topline inching by only 4-5 per cent in FY25, its chairman and managing director R K Tyagi told reporters here after the earnings announcement on Friday.

On the interconnected projects front, it is looking at companies beyond the immediate neighbourhood and will be looking at countries in the Middle East, Tyagi said.