Power giant to spend $48b on grid construction

State Grid Corp, the country's largest power utility, said on Thursday that it will spend more than 300 billion yuan ($48 billion) on grid construction this year and double its investment in extra-high voltage projects.

The company plans to get approval and start construction of seven extra-high voltage power transmission lines in 2013, according to its corporate social responsibility report.

It also plans to invest 52 billion yuan in extra-high voltage projects this year, around 26 billion yuan more than it invested last year.

In 2012, the company's total investment in grid projects was 305.4 billion yuan.

State Grid promised it will make efforts to improve grid construction in rural areas and reduce large-scale blackouts.

It will install more than 30 million smart meters to improve service quality.

By the end of 2015, the company's extra-high voltage and cross-region power transmission capacities will reach 210 million kilowatts, the company said.

dujuan@chinadaily.com.cn