Adani Transmission Ltd (ATL) on Wednesday said it has received a letter of intent for the acquisition of MP Power Transmission Package-II for Rs 1,200 crore.
It won the project through the Tariff-Based Competitive Bidding (TBCB) process and received the letter of intent on Tuesday.
"ATL...part of the diversified Adani Group, has received the Letter of Intent (LoI) for the acquisition of MP Power Transmission Package-II Ltd, incorporated by REC Power Development and Consultancy Ltd," a company statement said.
ATL will build, own, operate and maintain the transmission project in Madhya Pradesh for a period of 35 years.
The project consists of approximately 850 ckt km of transmission lines & amp; air-insulated substations of various voltage levels (220kV and 132kV) in 18 districts of the state.
With a CAPEX of Rs 1,200 crore, ATL's execution of the project will strengthen the transmission system in eastern Madhya Pradesh.
ATL is the country's largest private transmission company with a cumulative transmission network of 18,800 ckt km (circuit kilometre), out of which 13,200 ckt km is operational and 5,600 ckt km is at various stages of construction, it said.