Isolux Corsan completes first EPC project for PGCIL to boost India's T&D sector

Isolux Corsan India, the Indian subsidiary of the largest European infrastructure company operating in the domestic sector, today announced that it has completed its first High Voltage Transmission line EPC project for Power Grid Corporation of India Limited (PGCIL). Isolux Corsan undertook the complete engineering, procurement and construction of 163.6 Km of 765 KV single circuit transmission line on the Pune- Solapur section in the state of Maharashtra. This line is a crucial link to the One Grid project of the Government of India, being executed by Power Grid Corporation of India Limited (PGCIL).

The fully completed project is now set to unify the southern and western regions which will improve the process of distribution of electricity as and when the Krishnapatnam Ultra Mega Power Plant commences. The project has been completed within the stipulated timeframe despite serious operational challenges like inhospitable terrain, land acquisition and inclement weather. It demonstrates Isolux Corsan's commitment to the timely execution of projects no matter where they operate.

Speaking on the successful completion of the project, Mr. Jose Ruiz Hernandez, Managing Director, Isolux Corsan India said, "The new Government has taken up the agenda of bolstering India's infrastructure which is crucial to the country's economic growth. We, as a serious professional organization in the space, want to be committed in accomplishing the task. Speaking for the company, we are keen to grow in emerging markets and India is a key geography of our growth strategy."

Isolux Corsan is the first Spanish company specializing in building major infrastructure to win an infrastructure concession in India and is also executing two more projects from PGCIL in Karnataka, and Uttarakhand.

Shares of POWER GRID CORPORATION OF INDIA LTD. was last trading in BSE at Rs.146.6 as compared to the previous close of Rs. 146.9. The total number of shares traded during the day was 147561 in over 1575 trades.

The stock hit an intraday high of Rs. 148.85 and intraday low of 146. The net turnover during the day was Rs. 21710128.

Source : Equity Bulls

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