By IANS
New Delhi : The government-run power transmission utility Power Grid Corp of India Ltd (PGCIL) and private player Infrastructure Leasing and Financial Services Ltd (IL&FS) will together undertake groundwork for transmission projects to facilitate competitive bidding.
“The company entered into a shareholder’s agreement with IL&FS Jan 11,” PGCIL informed Bombay Stock Exchange Monday.
“Both the company and IL&FS will have 50 percent stake in the new joint venture (JV) company,” PGCIL said.
“This JV will facilitate project preparation and development work for state transmission utilities and will act as a bid process coordinator for them and manage the bidding process for selection of the private implementing agencies,” PGCIL said.