Company consolidates position in Rajasthan
Adani Transmission Ltd has acquired operational transmission lines of KEC International Limited for Rs.228 crore, consolidating its position in Rajasthan transmission sector.
The share purchase agreement was signed in November 2018.
Adani Transmission has acquired KEC Bikaner Sikar Transmission Private Limited having operational transmission lines aggregating about 344 ckt kms at an Enterprise Value of Rs.227.5 crore, said the company in a statement.
With the acquisition, the cumulative network of the company is around 13,450 ckt kms — around 10,355 ckt kms are under operation and 3,095 ckt kms are under various stages of construction.
Adani Transmission managing director and CEO Anil Sardana 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 comprises of 400 kV D/C transmission line between Bikaner and Sikar with a total length of 344 ckt kms. fiinews.com