Adani Transmission acquires KEC Bikaner Sikar Transmission
Adani Transmission has acquired KEC Bikaner Sikar Transmission (KECBSTPL) . KECBSTPL is a subsidiary of KEC International. In a press release KEC International announced the successful sale of its 99.99 % stake in KEC Bikaner Sikar Transmission to Adani Transmission (ATL) at an Enterprise Value of Rs. 227.5 crore. KECBSTPL has an operational transmission lines aggregating 344 ckt kms in the state of Rajasthan from Bikaner to Sikar.
Adani Transmission in a regulatory filing to BSE stated that this acquisition is in sync with ATL’s strategy to enhance value for its stakeholders through organic as well as inorganic opportunities. Also with several other ATL transmission lines and substations in the state of Rajasthan, there would be synergy advantages.
The cumulative network of ATL now is around 13,450 ckt kms, out of it around 10,355 ckt kms are under operation and the balance 3,095 ckt kms, are under various stages of construction.
@EPC World Media