PowerGrid’s Vizag Transmission deal

Power Grid Corporation of India Ltd has informed the BSE that the company has been chosen as the successful bidder for Vizag Transmission Ltd (Vizag TL). This has been acquired under the tariff-based competitive bidding process. In a statement to the BSE, the company has informed that the Vizag TL, a special purpose vehicle was formed to establish the system for strengthening transmission in the southern region. This is aimed at importing power from the eastern region on build, own operate and maintain basis. The acquisition was from REC Transmission Projects Company Ltd (the bid process co-ordinator).