PGCIL board okays creation of telecom, digital arm

State-owned Power Grid Corporation of India Ltd’s (PGCIL) board on Tuesday okayed an investment of Rs 14.23 crore for an electric vehicle charging station in Navi Mumbai and to create an arm to undertake telecom and digital technology businesses.

The board in its meeting on Tuesday approved the investment approval for ”setting up of electric vehicle charging station in Navi Mumbai under the FAME India Scheme Phase-II” at an estimated cost of Rs 14.23 crore, according to a BSE filing.

It added that the commissioning schedule is 12 months for the charging station and 24 months for other infrastructures such as kiosks and toilets from the date of agreement to be signed between POWERGRID and Navi Mumbai Municipal Transport (NMMT).

It also stated that the board approved the incorporation of a wholly-owned subsidiary of PowerGrid to undertake its telecommunications and digital technology business. PTI