Support: +91-22-61011756 / help@projectstoday.com
Help
1. Boolean Searches :

i. AND - Shows results where both terms on either side of the 'AND' operator are present. 'AND' must be in upper case. For example search term - delhi AND metro result - It will return records in which 'delhi' as well as 'metro' both are present.

ii. OR - Shows results where either term (or both terms) is present. 'OR' must be in upper case. For example search term - delhi OR metro result - It will return records in which either 'delhi' or 'metro' or both are present

2. Proximity Searches

A proximity search looks for terms that are within a specific distance from one another. For example, search term - 'delhi metro'~10 result - It will search for records where 'delhi' and 'metro' are found within 10 words of each other

3. Phrase searches

You can search phrases using double quotes. for e.g. 'delhi metro' result - It will return records where 'delhi metro' phrase is found.

Cabinet nod for asset monetisation of subsidiaries of PGCIL through InvIT model

Wednesday, 09 Sep 2020
Share this on :
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved monetisation of assets of the Power Grid Corporation of India (PGCIL), a public sector undertaking (PSU) under the Ministry of Power, through the Infrastructure Investment Trust (InvIT) model. 
 
This is the first time any PSU in the power sector will undertake asset recycling by monetising its assets through the InvIT model and using the proceeds to fund new and under-construction capital projects. 
 
The approval will help PGCIL to monetise in the first lot assets with gross block value of more than Rs 7,000 crore. 
 
These assets, which are mainly high voltage transmission lines and substations, are held by PGCIL in the form of special purpose vehicles (SPVs). The proceeds from the asset monetisation will be deployed by PGCIL in their new and under-construction projects. 
 
PGCIL, a public limited company under the administrative control of the Ministry of Power, government of India, started its commercial operation in 1992-93 and is today a Maharatna company, engaged in the business of power transmission. 
 
The company, along with its wholly-owned subsidiaries acquired through the tariff-based competitive bidding (TBCB) process, owns and operates a pan-India transmission network. The company meets its fund requirement for its capital expenditure (capex) through its internal accruals and debt. 
 
The Budget 2019-20 emphasised investment-led growth and indicated that new and innovative financial instruments including lnvITs have been launched as part of the brownfield asset monetisation strategy for augmenting infrastructure investment. 
 
The sale of assets to InvITs is a way of accessing long term, relatively cheap finance required to fund infrastructure projects in the transmission sector. The capex plan of PGCIL for the next two years (2020-21 and 2021-22) is Rs 20,500 crore.
 
Post Your Comments
 
 
   
 

 

 
  
Sign up to start your free trial

Are you...



REGISTER AND GET STARTER KIT ABSOLUTELY FREE!

Free access to Project News and Analysis

Project and Tender Alert in your mailbox

Explore the largest Database on Projects for free

Be part of Online Projects Community

User login
Start Exploring

Subscribe to any of our premium plans to

Access to complete information on 43000+ projects

Use our Notification service for instant update on projects and tenders

Closely monitor your opportunities with "WORKSPACE"

Use our online platform for promotions of your products and services