Sterlite Grid Limited (100% subsidiary) had won 3 UMTP projects worth Rs 4000 crores, namely ENICL, BDTCL and JTCL.
- ENICL project is under construction with expected COD before March 2013
- The EPC orders placed today with KEC International and Simplex Infrastructure Ltd are for 2 lines in Maharashtra and 2 lines in Madhya Pradesh respectively and these form part of BDTCL project. For the same project Substation orders have been placed on Alsthom Grid (former Areva T&D) and Hyundai.
- Orders for JTCL are yet to be finalized and will be completed before end of this financial year.
- Sterlite Grid ‘s current transmission portfolio consists of a network of about 2200 kilometers of transmission lines and 2 substations in the states of Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, West Bengal, Bihar and Assam
- As per Central Electricity Authority forecasts, more than Rs 20,000 crores of transmission projects will be procured on BOOM basis in each financial year of the 12th plan.
Pune, INDIA – January, 2012: Sterlite Grid Limited, a wholly owned subsidiary of Sterlite Technologies Limited, today announced placement of orders for its 765 kV transmission lines with M/s KEC Ltd and Simplex Infrastructure Ltd.
The scope of these orders includes engineering, supply and construction of 765kV transmission lines terminating at Bhopal and Dhule Substations. These substations are also being developed by Sterlite Grid and were ordered earlier this year with Areva T&D, Hyundai (Korea) and BTW (China).
The contract, which was signed on January 17, 2012, is part of a investment by Sterlite Grid for its project that involves establishment of four 765 kV Single Circuit transmission lines, and two 765kV substations for strengthening the Western Region. The sub-stations would be set up at Bhopal (Madhya Pradesh) and at Dhule (Maharashtra), and are part of the transmission systems strengthening project awarded to Sterlite Grid Limited on a ‘Build, Own, Operate and Maintain’ (BOOM) basis. The transmission lines would be commissioned within 3 years and the Company would operate and maintain the same for a minimum tenure of 35 years thereafter.
Mr Pravin Agarwal, Wholetime Director, Sterlite Technologies. : “These orders represent our continued commitment to the Grid Business and shows are seriousness in executing large scale transmission jobs in the country on BOOM basis. India requires tremendous investment in the transmission sector over next 5 years in order to meet its economic growth targets, and our goal is to bring the required level of investments and entrepreneurship in a sector that has attracted little attention from the private sector so far.”
About Sterlite Grid Limited: Sterlite Grid Limited is a fully owned subsidiary of Sterlite Technologies Limited. The Company is executing 3 transmission projects, pan-India via its fully owned subsidiary companies – East-North Interconnection (ENICL), Bhopal-Dhule Transmission (BDTCL) and Jabalpur Transmission Limited (JTCL). More details at www.sterlitegrid.com
About Sterlite Technologies Limited: Sterlite Technologies Limited (“Sterlite”) [BSE: 532374, NSE: STRTECH], is a leading global provider of transmission solutions for the power and telecom industries. Equipped with a product portfolio that includes power conductors, optical fibers, telecommunication cables and a comprehensive telecom systems / solutions portfolio, Sterlite’s vision is to ‘Connect every home on the planet’. For more details, please visit www.sterlitetechnologies.com
Contacts:
Keith D’Silva: Corporate Communications, Sterlite Technologies Limited
Phone: +91.20.30514000, Email: keith.dsilva@sterlite.com
Vishal Aggarwal: Investor Relations, Sterlite Technologies Limited
Phone: +91.20.30514000, Email: vishal.aggarwal@sterlite.com
www.sterlitetechnologies.com
