Ahmedabad (Gujarat) [India], July 6 (ANI): Adani Transmission Ltd (ATL) said on Monday that it has signed definitive agreements with Kalpataru Power Transmission Ltd (KPTL) for acquiring Alipurduar Transmission Ltd in a manner consistent with a transmission service agreement and applicable consents.
The enterprise value for the project is Rs 1,286 crore. The acquisition is expected to be completed in a few months after all necessary regulatory approvals and other consents.
ATL said the acquisition is in sync with its strategy to enhance the value for its stakeholders through organic as well as inorganic opportunities. With this acquisition, the cumulative network of ATL will reach more than 15,400 circuit km of which more than 12,200 ckt km including this asset is operational and more than 3,200 ckt km is under various stages of execution.
With this scale of operations, ATL said it will enjoy substantial benefits in terms of cost optimisation, shared resources and will fortify its position of being the largest private sector transmission company in the country.
"The acquisition of Alipurduar Transmission will bolster the pan-India presence of ATL consolidating its position as the largest private sector transmission company in India," said Managing Director and CEO Anil Sardana. "This asset will take ATL closer to its target of setting up 20,000 ckt km of transmission lines by 2022.
Alipurduar Transmission operates transmission lines aggregating to around 650 ckt km in West Bengal and Bihar. The project was awarded through a competitive bidding process on a build, own, operate, maintain basis. (ANI)