NEW DELHI :
Adani Transmission Ltd said it has completed Rs 228 crore acquisition of operational transmission lines of
KEC International Limited.
The share purchase agreement for this acquisition was signed in November 2018, a company statement said.
Adani Transmission has acquired KEC
Bikaner Sikar Transmission Private Limited having operational transmission lines aggregating ~ 344 ckt kms at an
Enterprise Value of INR 227.5 crore, it said.
With the completion of this acquisition, the cumulative network of the company will reach around 13,450 ckt kms, out of which around 10,355 ckt kms are under operation and the balance 3,095 ckt kms, are under various stages of construction, the statement said.
Anil Sardana, Managing Director & CEO, Adani Transmission Ltd said, “This has further consolidated our position in the state of
Rajasthan with an operating base of transmission lines aggregating to 1,375 ckt kms and multiple substations."
KEC Bikaner Sikar Transmission Private Limited project comprises of 400 kV D/C transmission line between Bikaner and Sikar with a total length of 344 ckt kms in the state of Rajasthan. The project was awarded through competitive bidding process and was commissioned in December 2017.