Power Grid Corporation of India (PGCIL) has acquired Medinipur - Jeerat Transmission, the Project SPV to establish Transmission System for '65kV Strengthening in Eastern Region (ERSS-XVIII)', on build, own, operate and maintain (BOOM) basis from PFC Consulting (the Bid Process Coordinator).

The transmission system includes establishment of 765kV and 400kV Transmission lines including establishment of two new 765/400kV Substations. The transmission system is to be progressively constructed over a period of 40 months. 

Shares of the company declined Rs 0.45, or 0.23%, to trade at Rs 196.30. The total volume of shares traded was 53,912 at the BSE (12.43 p.m., Wednesday).