PFC Consulting incorporates Jharkhand transmission project SPV as subsidiary

New Delhi: State-owned Power Finance Corporation (PFC) said on Wednesday that its arm PFC Consulting has incorporated Gola B-Ramgarh Transmission Ltd as a wholly-owned subsidiary for implementing a transmission project in Jharkhand. Gola B-Ramgarh Transmission, a special purpose vehicle, will be used for developing the intra-state transmission system consisting of 400/220/132/33 KV SS at Gola-B along with associated transmission lines and 220/33 KV SS at Ramgarh along with associated transmission line under Package-B (Jharkhand) for DVC, a BSE filing stated.

The power ministry has nominated PFC Consulting as the Bid Process Coordinator (BPC) for selection of a developer through tariff-based competitive bidding for the Independent Transmission Projects (ITPs).

As per the provisions of bidding guidelines issued by the power ministry, the BPC has to prepare the project profile and initiate the process of land acquisition and forest clearance, if required.

For these activities, a special purpose vehicle is required to be incorporated, which will take up various activities, including survey and preparation of report, initialization of the process of land acquisition and initiate the process of seeking forest clearance, if required, it stated.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)