Sterlite Technologies has secured Rs 2,200 crore debt for two grid projects.
The debt syndication has State Bank of India as the lead participant.
The projects are to be executed by Sterlite Technologies’ wholly owned subsidiaries Bhopal-Dhule Transmission Company Ltd (BDTCL) and Jabalpur Transmission Company Ltd (JTCL).
The JTCL project will connect Dharamjaygarh-Jabalpur-Bina and be the first private sector developed double circuit line.
The BDTCL contract includes single circuit lines along Vadodara-Dhule-Aurangabad and Indore-Bhopal-Jabalpur. It will have two 765 Kv sub-stations at Dhule and Bhopal.
Sterlite has a portfolio of three projects estimated at Rs 4,000 crore. These projects will evacuate and transmit power through a network of 2,200 km transmission lines and two sub-stations across Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, West Bengal, Bihar and Assam.
Sterlite was awarded the projects on BOOM (build-own-operate-maintain) basis, following tariff-based competitive bidding.
Mr Pravin Agarwal, Whole-time Director, Sterlite Technologies, said the power transmission sector is gearing up for rapid growth in the 12th Plan.
The company has already placed most of the project-related orders on local and global vendors.