State-run Power Grid Corporation of India entered into a shareholder’s agreement with Infrastructure Leasing & Financial Services. The new joint venture company named ‘Powergrid IL&FS Transmission’ has since been incorporated. Both, the company and IL&FS will have 50% stake in the company. The main objective of company is to undertake activities of project development of intra transmission and sub-transmission works for State power utilities, under public-private-partnership route within India and abroad including interconnection with neighboring countries subject to bilateral agreement between the countries.
The joint venture company board in its 1st meeting have approved that the company will broaden its scope of development of transmission projects in India and abroad including interconnection with neighboring countries.