Power Grid Corporation of India has acquired Meerut-Simbhavali Transmission (MSTL), the Project SPV to establish transmission system for construction of 765/400/220 kV GIS Substation, Meerut with associated lines and 400/220/132 kV GIS Substation, Simbhaoli with associated Transmission lines, on build, own, operate and maintain (BOOM) basis from PFC Consulting (the Bid Process Coordinator).
MSTL has been acquired by Power Grid pursuant to its emerging as successful bidder under Tariff Based Competitive Bidding and is engaged in the business as that of Powergrid i.e. transmission of power. The entity was acquired for aggregate value of about Rs 8.11 crore including 10,000 equity shares at par at Rs 10 each along with assets and liabilities of the company as on the acquisition date i.e December 19, 2019.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.
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