Business Line reported that Power Grid Corporation of India's board of directors has approved the establishment of JV companies with Odisha Power Transmission Corporation Ltd and Bihar State Power Co Ltd for taking up intra state transmission projects in the respective States.

PGCIL in a communication to stock exchanges said that the scope of intra State works is yet to be finalized. The JV companies to be formed may have a debt equity structure of 80:20 and will have a suitable payment security mechanism.