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Adani Transmission Ltd on Wednesday informed that it will invest ₹1,200 crore to further strengthen the power transmission infrastructure in Eastern Madhya Pradesh covering 18 districts with its transmission network of over 850 circuit km (ckt km).
Company has received the Letter of Intent (LoI) for the acquisition of the project ‘MP Power Transmission Package-II Limited,’ incorporated by REC Power Development and Consultancy Ltd. ATL won the project through the Tariff-Based Competitive Bidding (TBCB) process and received the LoI on September 14, a statement said.
‘MP Power Transmission Package-II Limited’ project consists of about 850 ckt km of transmission lines and air insulated substations (220kV and 132kV) in 18 districts of Madhya Pradesh.
Also read: Adani Transmission board approves appointment of Rohit Soni as CFO
ATL will build, own, operate and maintain the transmission project for a period of 35 years. “With a capex of ₹1,200 crore, ATL’s execution of the project will strengthen the transmission system in Eastern Madhya Pradesh for MP Power Management Company Limited.,” the statement said.
Anil Sardana, MD & CEO, Adani Transmission Ltd said, “This newest project will allow us to contribute significantly to the development of the transmission infrastructure in Madhya Pradesh.”
The latest addition of the project, consolidates ATL’s position as India’s largest operating private power transmission company taking it closer to its target of setting up 20,000 ckt km of transmission lines by 2022.
Adani Transmission shares ended at ₹1,942 Wednesday, flat as compared to previous closing on BSE.
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