New Delhi: Adani Transmission Ltd (ATL) said on Wednesday that it has received the Letter of Intent (LoI) for the acquisition of MP Power Transmission Package-II for Rs 1,200 crore. "ATL…part of the diversified Adani Group, has received the Letter of Intent (LoI) for the acquisition of MP Power Transmission Package-II Ltd, incorporated by REC Power Development and Consultancy Ltd," the company said in an official statement. Adani Transmission Ltd had won the project through Tariff-Based Competitive Bidding (TBCB) process and received the LoI on September 14.
Adani Transmission will build, own, operate and maintain the transmission project in Madhya Pradesh for a period of 35 years, said the statement. The project consists of approximately 850 ckt km of transmission lines and air insulated substations of various voltage levels (220kV and 132kV) in 18 districts of the state.
With a capex of Rs 1,200 crore, Adani Transmission's execution of the project will strengthen the transmission system in eastern Madhya Pradesh.
Anil Sardana, MD & CEO, Adani Transmission Ltd, 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."
"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," said the statement.
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