Sterlite Power readies $5-7 b investment in transmission business – Feedback

Sterlite Power Transmission (SPTL), which was de-merged from Sterlite Technologies in May, will invest about $5-7 billion ( Rs. 34,000-47,600 crore) over a five-year period in transmission business across the country.

The proposed investment will depend on allocation of contracts by the Central and State governments. Sterlite competes primarily with Adani for transmission contracts as smaller companies look to exit this space. SPTL also expects its portfolio of transmission projects to more than double to about Rs. 30,000-35,000 crore in 4-5 years. It currently has a Rs.12,000-14,000-crore portfolio spread over 10 projects. “We have 10 projects in hand, and there are aboutRs. 4,000-5,000-crore projects available for bidding in the next six months. These are all transmission projects across different parts of the country and we are qualified for all these,” Pratik Agarwal, Chief Executive Officer at SPTL, told.

http://www.thehindubusinessline.com/todays-paper/sterlite-power-readies-57-b-investment-in-transmission-business/article9189945.ece

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