Powergrid acquires Vizag Transmission under tariff-based competitive bidding

Powergrid acquires Vizag Transmission under tariff-based competitive biddingPower Grid Corporation of India Ltd has informed BSE that the company, pursuant to its selection as the successful bidder under tariff-based competitive bidding, has acquired Vizag Transmission Limited (VIZAG TL).
VIZAG TL is a special purpose vehicle to establish the transmission system for system strengthening in Southern Region for import of power from Eastern Region on build, own operate and maintain (BOOM) basis on August 30, 2013 from REC Transmission Projects Company Limited (the Bid Process Cordinator).