Govt looking at Rs.3.3 lakh cr investments in transmission

The government is looking at an investment of around $50 billion (around Rs 3.3 lakh crore) in the transmission segment in the next five years. Piyush Goyal, Union Power Minister, said, ´In the next six months, at least 12-13 transmission lines are being bid out worth $16 billion. Hopefully, in the next five years, we are looking at an investment of nearly $50 billion.´ The government is also planning to bid out transmission lines rather than handing them over to Power Grid Corporation of India Ltd on nomination basis. Goyal said, ´We are moving out of the system of nomination to nomination becoming an exception and competitive bidding becoming the norm´. He also said the Government is looking at the option of creating a national grid which is seamless, can absorb large amount of renewables and has the ability to make for any shortages.