new Delhi. Kalpataru Power Transmission Limited (KPTL) has signed an binding agreement with Adani Transmission Limited to sell its Alipurdura Transmission Limited (ATL). The deal will be at an enterprise value of Rs 1286 crore. Both the companies have said that the deal will depend on necessary regulatory approvals.
Alipurduar Transmission Limited was set up in Bhutan under the Inter-State Transmission System to bring power from a new hydroelectric power project to India. The project includes design, financing, construction, commissioning, operation and maintenance of a 325 km 400 kV transmission line.
This project was achieved by Alipurduar Transmission Limited for 35 years from REC Transmission Projects Company Limited through a competitive bidding process on a boom basis. Alipurduar is a wholly owned company of KPTL. EY and Khaitan & Co. are advisors to KPTL for the deal.
KPTL Managing Director and CEO Manish Mohanat said that selling T&D property shows our ability to create, operate and sell it within the stipulated time. We have tied up for all our T&D assets like ATL, Kohima and Jhajjar transmission assets. In the financial year 2019-20, we completed the sale and transfer of Satpura transmission assets. We are now focusing on completing the sale of the remaining assets in the financial year 2020-21. The sale of T&D assets is an important step towards accelerating KPTL's growth strategy in the global EPC market and will also help in increasing the value of shareholders.
This post was published on July 6, 2020 10:56 am
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