The company said its board of directors had approved these investment proposals during a meeting on 26 September 2012.

Power Grid would spend about INR8.03bn ($152.5m) as part of ‘Northern Region System Strengthening Scheme – XXVI’, with commissioning schedule of two and a half year from the date of investment approval.

In addition, the company plans to invest INR5.24bn ($99.52m) for ‘Northern Region System Strengthening Scheme – XXVIII’ and the project would be completed within 32 months from the date of investment approval.

Recently, Siemens has signed a contract worth INR1.47bn ($27.92m) with Power Grid to build a 765kV test laboratory at Bina in the state of Madhya Pradesh for National High Power Test Laboratory.