Power Update

RInfra Owns 74% in PKTCL for Transmission project

  RInfra owns the country’s first 100 per cent private sector transmission project – Western Region System Strengthening Scheme (WRSSS) – B & C projects located in the state of Maharashtra, Gujarat, Madhya Pradesh and Karnataka. RInfra owns 74 per cent in Parbati Koldam Transmission Company Limited (PKTCL) located in the state of Himachal Pradesh and Punjab in joint venture with Power Grid Corporation of India Limited (PGCIL). All three transmission projects are completed and revenue generating.
Reliance Infrastructure Limited (RInfra) has announced the signing of a binding term sheet with Adani Transmission Limited (ATL) for 100 per cent stake sale of its transmission assets.
The entire sale proceeds shall be utilised for debt reduction. The transaction is in line with the strategic plan of monetising non-core business and focus on major growth areas like defence and EPC business. Monetisation of cement business has been completed and monetisation of roads and Mumbai power businesses are in advanced stage.
The proposed transaction is subject to due diligence, definitive documentation, applicable regulatory approvals and certain other conditions. Further announcements will be made at an appropriate stage. SBI Capital Markets Limited is acting as the financial advisors to RInfra for this transaction.

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