Reliance Power Transmission finally signs deal with eight firms
Reliance Power Transmission Ltd (RPTL), an associate company of Reliance Infrastructure Limited, has signed power transmission agreements with eight entities from the western region.
The agreements are for two inter-State power transmission projects, under the Western Region System Strengthening Scheme (WRSSS) - II.
The signing of the agreements will lead to financial closure for these projects, costing Rs 1,800 crore.
In 2005, Power Grid Corporation of India Ltd, as the bid process co-ordinator, had invited tariff-based competitive bids for establishing 400kV Double Circuit Transmission Lines of around 1500 km under WRSSS- II, in the Western Region.
Reliance Power Transmission was declared as bid winner. The other players in the race were Tata Power, Lanco, GMR and Larsen & Toubro.
After that, RPTL on winning the project as the lowest bidder, obtained transmission licence from the CERC and was entrusted to establish the transmission lines under the scheme.
The company after prolonged deliberations with the western region beneficiaries has now decided to sign the agreements.
The project is likely to be completed by December 2010.