Lanka to take call on Rs 3k cr undersea power link: PGCIL

From Moneycontrol.com

The report on the 500 MW project, to be jointly implemented by Power Grid Corporation of India Ltd and Ceylon Electricity Board, has been already sent to the island nation. It will only be the second project of its kind, after the transnational 2,000 MW power transmission line between Britain and France.

State-owned Power Grid Corp   on Wednesday said the call to implement the proposed Rs 3,000 crore undersea power transmission link has to be taken by Sri Lanka. The report on the 500 MW project, to be jointly implemented by Power Grid Corporation of India Ltd and Ceylon Electricity Board, has been already sent to the island nation.

It will only be the second project of its kind, after the transnational 2,000 MW power transmission line between Britain and France. "The draft report on the project has been sent to the Government of Sri Lanka from our side...since they (Sri Lanka) will take power, and since undersea cables are expensive, so they have to finalise what to do next," PGCIL CMD R N Nayak said here. 

The India-Lanka undersea cable project, to be implemented at an estimated cost of Rs 3,000 crore, was to be completed by 2013. The line is expected to expand to 1,000 MW later. The 285-km power link, including submarine cables over a stretch of 50 km, will enable the two nations to trade surplus power. PowerGrid offers consultancy services abroad. It has over 100 consultancy clients in the power sector, the services including new transmission lines, substations and project management services.

The company, which is also providing consultancy to neighbouring Bangladesh to set up a 400 Kv HVDC network, besides planning to install transmission lines from the Bangladesh border, is looking for similar opportunities in Nepal and Bhutan.

PGCIL is executing an engineering consultancy assignment for two 400Kv sub-stations and associated overhead transmission lines in Dubai from Dubai Electricity & Water Authority. Shares of the company were trading at Rs 149.05, up 0.85 percent on the BSE.  Power Grid Corp stock price On April 09, 2015, at 12:26 hrs Power Grid Corporation of India was quoting at Rs 148.30, up Rs 1.00, or 0.68 percent. The 52-week high of the share was Rs 159.00 and the 52-week low was Rs 102.00.

The company's trailing 12-month (TTM) EPS was at Rs 9.07 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 16.35. The latest book value of the company is Rs 65.87 per share. At current value, the price-to-book value of the company is 2.25.