Adani Transmission gets LOI

Adani Transmission reported of receiving the letter of intent (LOI) from the Maharashtra State Electricity Transmission Company Limited (MSETCL) in order to build, own, operate, and maintain a transmission project in Maharashtra for a time period of 35 years.

In Mumbai, this project will be the first ever 400 kV substation facility. The said project, namely ‘Kharghar Vikhroli Transmission Private Limited,' will comprise of nearly 34 km of 400 kV and 220 kV transmission lines to 400kV GIS Substation, located at Vikhroli in the city of Mumbai. The project is considered as very critical for Mumbai, keeping the shortage of the existing capacity of transmission corridor, which is unable to carry further sufficient power into the city, in consideration. Through this project, an additional power will be brought to Mumbai, which will help in meeting the future demand of the city and bringing down the cost of power for the city’s citizens.

Adani Transmission Limited (ATL) is the transmission and distribution business arm of the Adani Group. ATL is one of the country’s largest private transmission company, with a cumulative transmission network of around 14,738 ckt. km. out of which 11,477 ckt. km. is operational and 3,261 ckt. km. is at various stages of construction.

On Monday, the stock of the company opened at Rs 332.9, up by 0.32 per cent or Rs 1.05 per share. The 52-week high is Rs 350.05 and 52-week low is Rs 180 on the BSE.