Sterlite Tech bags PFC's transmission project

Sterlite Technologies has bagged a mega transmission project, costing about Rs 800 crore, from the state-run Power Finance Corporation (PFC). The company has been awarded the letter of intent by PFC for its East-North interconnection mega transmission project.

The project, costing nearly Rs 800 crore, was won by the company on the basis of its technical and financial credentials through a tariff based bidding process conducted by PFC. The project has been awarded on a build, own, operate and maintain basis, wherein the transmission lines would be commissioned within three years and the company would operate and maintain the same for a minimum tenure of 22 years thereafter.

The East-North interconnection mega transmission project, which aims to evacuate power from the North-East and Eastern states to the Northern region in the country, is the first mega independent power transmission project to the awarded in India.