Cabinet approves asset monetization of subsidiaries of PGCIL
The approval would facilitate POWERGRID, to undertake asset monetization of its identified TBCB transmission assets through InvIT, so that the proceeds from the asset monetization could be utilized for fresh investment in the transmission network expansion and other capital schemes of the company. In the first block, POWERGRID would be able to monetize 5 TBCB assets of gross block of 7164 crore rupees. Based on the experience gained, further monetization shall be carried out in future.
The assets proposed for monetization through InvlT are operational assets proposed to be managed by the existing manpower of POWERGRID already deputed for this purpose and therefore no additional employment generation is envisaged with regard to them. However, additional employment opportunities are likely in services incidental to InvlT, such as merchant banking, legal advisory, trusteeship, financial and taxation consultancy, valuation, printing, advertisement and in allied activities.