PowerGrid to monetise 5 units worth Rs 7,000 Cr

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, allowed state-run transmission utility PowerGrid to monetise assets with gross block of more than Rs 7,000 crore through the InvIT (Infrastructure Investment Trust) route, charting a new course for disinvestment amid the economic slowdown.

“The asset monetisation through InvIT by PowerGrid is a first for the power sector PSU. The proceeds from the asset monetisation would be utilised by PowerGrid for its CAPEX and the premium generated would augment the net worth of PowerGrid,” a government statement said.

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