Advertisement
Canada markets open in 5 hours 51 minutes

  • S&P/TSX

    21,873.72
    -138.00 (-0.63%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CAD/USD

    0.7309
    +0.0011 (+0.15%)
     

  • CRUDE OIL

    82.99
    +0.18 (+0.22%)
     

  • Bitcoin CAD

    87,824.61
    -3,597.62 (-3.94%)
     

  • CMC Crypto 200

    1,390.67
    +8.10 (+0.59%)
     

  • GOLD FUTURES

    2,334.30
    -4.10 (-0.18%)
     

  • RUSSELL 2000

    1,995.43
    -7.22 (-0.36%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • NASDAQ futures

    17,437.50
    -227.00 (-1.29%)
     

  • VOLATILITY

    16.30
    +0.33 (+2.07%)
     

  • FTSE

    8,078.67
    +38.29 (+0.48%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • CAD/EUR

    0.6817
    -0.0002 (-0.03%)
     

Adani Transmission to invest Rs 1,200 cr in eastern Madhya Pradesh to strengthen power transmission

ANI
·2 min read
Adani Transmission Ltd
Adani Transmission Ltd

Ahmedabad (Gujarat) [India], September 15 (ANI): Adani Transmission Ltd (ATL) on Wednesday said it would invest Rs 1,200 crore in eastern Madhya Pradesh to strengthen the power transmission system for MP Power Management Company Ltd (MPPMCL).

The company will build, own, operate and maintain the transmission project in the state for a period of 35 years.

ATL, in a press release, informed that the company had received a Letter of Intent (LoI) for the acquisition of 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 14 September 2021. ATL will build, own, operate and maintain the transmission project in the state of Madhya Pradesh for a period of 35 years," the release read.

ADVERTISEMENT

The project, 'MP Power Transmission Package-II Limited', consists of approximately 850 ckt km of transmission lines and air-insulated substations of various voltage levels (220kV and 132kV) in 18 Districts of Madhya Pradesh. With a capex of Rs 1,200 crore, ALT's execution of the project is believed to strengthen the transmission system in eastern Madhya Pradesh.

Anil Sardana, Managing Director and CEO of ATL said, "As the leader in building power transmission infrastructure in the private sector, we are accelerating our pan-India presence through the competitive bidding process and also setting industry benchmarks in sustainable best practices. This newest project will allow us to contribute significantly to the development of the transmission infrastructure in Madhya Pradesh."

The release further mentioned that winning this project consolidates ATL's position as India's largest operating private power transmission company and takes it closer to its target of setting up 20,000 ckt km of transmission lines by 2022. "The project will also allow the company to assist in growing measure the Government of India's quest to achieve Power For All by 2022," it added. (ANI)