State-owned REC Limited on Wednesday said it has handed over Rajgarh Transmission Limited to G R Infraprojects Limited.
RTL (Rajgarh Transmission Limited) is a Special Purpose Vehicle (SPV) which was formed for the construction of transmission projects in Rajgarh and Madhya Pradesh, REC Limited said in a statement.TL (Rajgarh Transmission Limited) is a Special Purpose Vehicle (SPV) which was formed for the construction of transmission projects in Rajgarh and Madhya Pradesh, REC Limited said in a statement.
''REC's subsidiary REC Power Development and Consultancy Limited (RECPDCL) on May 30 handed over Rajgarh Transmission Limited to G R Infraprojects Limited. The SPV was formed for construction of transmission project viz. transmission system for evacuation of power from RE projects in Rajgarh (2,500 MW) SEZ in Madhya Pradesh,'' it said.
G R Infraprojects Limited was the successful bidder of the inter-state transmission project of the power ministry.
According to the statement, ''The selection of successful bidder was carried out through Tariff Based Competitive Bidding (TBCB) process for selection of transmission developers. The work involves establishment of 400/220 kV, 3X500 MVA at Pachora pooling station and 400 kV D/c line from Pachora SEZ PP -Bhopal. The schedule of implementation of the scheme is 18 months from the date of transfer of SPV.'' The statement did not provide any financial details.
REC Limited, under the power ministry, is a non-banking finance company focussed on power sector financing and development across India.
(With PTI inputs)
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