Companies

Government accords 'Maharatna' status to PowerGrid Corporation

Our Bureau New Delhi | Updated on October 24, 2019 Published on October 24, 2019

 

The government on Wednesday accorded 'Maharatna' status to Power Grid Corporation of India Limited.

A statement from PGCIL said that RK Singh, Minister of State (Independent Charge) for Power, New & Renewable Energy had announced this at its 30th Raising Day Celebrations of the company held on October 23.

The Maharatna status provides enhanced powers to the Board of PowerGrid to facilitate the expansion of operations, both in domestic as well as global markets, the statement added.

Read also: PowerGrid declares ₹4,356-cr dividend

PowerGrid is the third largest Central Public Sector Enterprise in India as well as one of the largest transmission company globally. It has been recognised as ‘Fastest Growing Electric Utility in Asia Pacific’ successively for the last six years, since 2014.

As on September 2019 end, PowerGrid’s transmission network includes more than 160,930 circuit kilometres of transmission lines, 248 sub-stations with transformation capacity of more than 383,270 MVA on a consolidated basis.

Published on October 24, 2019
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