Power Grid acquires REC's Unchahar transmission project
Posted on Mar 25 2014 | IANS
New Delhi, March 25 : State-run transmission utility Power Grid Corp has acquired Unchahar Transmission Ltd from REC Transmission Projects Co Ltd, a subsidiary of state-owned REC, for building the transmission system of the Unchahar thermal power plant in Uttar Pradesh.
"Power Grid Corporation, pursuant to its selection as the successful bidder under tariff-based competitive bidding, has acquired Unchahar Transmission Limited, the Special Purpose Vehicle to establish the transmission system for Unchahar thermal power station on build, own, operate and maintain basis from REC Transmission Projects Company Limited," Power Grid said Tuesday in a Bombay Stock Exchange (BSE) filing.
Power Grid stock closed Tuesday at Rs.105.25 a share, 2.04 percent, or 2.1 points, higher than its previous close on the BSE.