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India Blackouts Spur $18 Billion Power Grid Upgrade

Power Grid Corp. of India Ltd., the nation’s largest electricity transmission company, may exceed a 1 trillion rupee ($18 billion) spending plan to upgrade its network and avoid a repeat of the world’s biggest blackout.

Revenue of the state-owned company, which is doubling expenditure in the five years through March, 2017, may rise fourfold in the period following completion of transmission projects, R.P. Sasmal, director of operations said in an interview. The grid aims to boost its market share to 70 percent from 50 percent as the company increases spending at a rate that will dwarf its competition, he said.