Sterlite Technologies Limited “Sterlite” [BSE: 532374, NSE:STRTECH], a leading global provider of transmission solutions for the power and telecom industries, announced that its wholly owned subsidiary has been selected to develop India’s first privately owned 765kV transmission system on ‘Build, Own, Operate’ (BOO) basis.
The transmission scheme for ‘System Strengthening Common for Western Region & Northern Region’ involves establishment of a 765kV Double Circuit Line from Dharamjaygarh to Jabalpur (385 km) and a 765kV Single Circuit Line from Jabalpur to Bina (250 km).
The project transmission lines would be commissioned within 36 months. The Company would operate and maintain the transmission system for a minimum tenure of 35 years thereafter.
This system would evacuate and transmit power from a total of 7 power generation stations located in the Indian states of Madhya Pradesh, Chattisgarh, West Bengal, Orissa and Jharkhand.
The tariff-based competitive bidding process was conducted by Power Finance Corporation (PFC). Sterlite won the project on the basis of its technical and financial credentials. The project cost is estimated at about Rs. 1,300 Crores.
Says Pravin Agarwal, Wholetime Director – Sterlite Technologies, “This is the first private 765kV double circuit project in the world. We are honored to be selected to execute this milestone project, which would help reduce the gap between power generation and power transmission in India.”
Sterlite had earlier been awarded the ‘East North Interconnection Project’ to develop a transmission system with a total line length of about 450 km, for two 400kV Quad Double Circuit transmission lines in Assam, Bihar and West Bengal, . This project is well on its way to meet the scheduled timelines.
With these two projects, the Company’s total portfolio stands at about 1,100 km for development of transmission systems.
About Sterlite Technologies Limited
Sterlite Technologies Limited (“Sterlite”) [BSE: 532374, NSE: STRTECH], is a leading global provider of transmission solutions for the telecom and power industries. It is amongst the largest global manufacturers of optical fibers and is the largest manufacturer of power conductors, globally. For more details, please visit www.sterlitetechnologies.com
Sterlite Power Grid Ventures Limited