Adani Transmission acquires Reliance Infrastructure WRSSS assets for Rs. 1,000 crore

Adani Transmission acquires Reliance Infrastructure WRSSS assets for Rs. 1,000 crore
Nov 2017 , by , in Latest News

Adani Transmission Ltd on Wednesday said it has completed acquisition of operational transmission assets of WRSS Schemes of Reliance Infrastructure Ltd for Rs. 1,000 crore. In effect, its power-wheeling network crossed the 8,500 circuit km mark.

“Adani Transmission Ltd (ATL) attains a new milestone of 8,500 ckt kms (circuit kilometres) of transmission lines in operation by completing the acquisition of operational transmission assets of Western Region Strengthening System Schemes (WRSSS) – B and C of Reliance Infrastructure Limited (R-Infra),” an ATL statement said.

It further said ATL completed the acquisition of 100 per cent stake of WRTM and WRTG, with operational transmission lines aggregating 3,063 ckt kms, with a deal valuation of Rs. 1,000 crore. This acquisition, the company said, is in sync with the ATL strategy to enhance the value of its stakeholders through organic as well as inorganic growth.

In a separate statement, Reliance Infra said, “Sale of WRSSS transmission business is complete with deal valued at nearly Rs. 1,000 crore. The entire proceeds from the stake sale shall be utilised for debt reduction.”

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