Adani Transmission Ltd (ATL), the largest private sector power transmission company operating in India, has received the Letter of Intent (LOI) from Maharashtra State Electricity Transmission Company Limited (MSETCL) to build, own, operate and maintain a transmission project in the state of Maharashtra for a period of 35 years. This will be first ever 400 kV substation facility in the city of Mumbai.
The project “Kharghar Vikhroli Transmission Private Limited” comprises of approximately 34 km of 400 kV and 220 kV transmission lines along with 400kV GIS Substation at Vikhroli in Mumbai. This project is critical to the city of Mumbai as the existing capacity of transmission corridor is not sufficient to carry further power into the city. This project would enable additional power to be brought into Mumbai and would thus help in meeting the future demand of the city. The project has been awarded to Adani Transmission through Tariff Based Competitive Bidding Process.
This win in the state of Maharashtra will not only help the Company re-inforce its position as the largest private sector transmission company operating in India but also allow additional source of power and bring down the cost of power for the citizens of Mumbai.
Adani Transmission Ltd is currently trading at Rs332.95 up by Rs1.1 or 0.33% from its previous closing of Rs331.85 on the BSE.
The scrip opened at Rs335.80 and has touched a high and low of Rs337.10 and Rs331.75 respectively. So far 83,327 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs36,497.20cr.
