ATL gets letter of intent to acquire MP Power Transmission Package-II
New Delhi: Adani Transmission Ltd (ATL) on Wednesday said it has received a letter of intent for acquisition of MP Power Transmission Package-II for Rs 1,200 crore.
It won the project through Tariff-Based Competitive Bidding (TBCB) process and received the letter of intent on Tuesday.
"Adani Transmission Ltd...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," a company statement said.
Adani Transmission Ltd will build, own, operate and maintain the transmission project in Madhya Pradesh for a period of 35 years.
The project consists of approximately 850 ckt km of transmission lines & amp; 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 Ltd's execution of the project will strengthen the transmission system in eastern