Sterlite Grid wins sixth UMTP project

PUNE, India, May 25, 2014 /PRNewswire/ --

Sterlite Grid has been awarded a power transmission project to deliver over 1000 MW's of electricity from Punjab to the Kashmir Valley.

Sterlite Technologies Limited "Sterlite" [BSE: 532374, NSE:STRTECH], a leading global provider of transmission solutions for the telecom data and power industries, today announced that Sterlite Grid Limited has been awarded its sixth ultra-mega transmission project (UMTP) on build-own-operate basis by the Ministry of Power, Government of India. This Northern Region Strengthening Scheme project (NRSS 29) is a part of the National Grid and is designed to carry over 1000 MWs of electricity from Punjab to the Kashmir Valley.

The Kashmir valley has been troubled by frequent blackouts on account of unavailability of sufficient power. These blackouts occur mostly during the winter months thereby having a severe impact on the lives of Valley residents. The NRSS 29 project was conceived by the Central Electricity Authority to provide a direct link between Punjab and the valley region. A new route was specifically chosen to ensure the line has minimum outages. Post-construction, Sterlite Grid will be responsible to ensure that the link is active for 98% of the year.

The project consists of one substation and 800 circuit kilometers of 400kV lines in the states of Punjab and J&K. Sterlite Grid has quoted an annual tariff of approximately Rs 440 crores per year, which is 5% lower than the next highest bid. This will be Sterlite Grid's largest project in terms of revenues and scale.

Sterlite Grid continues to enjoy a leadership position in UMTP (Utra Mega Transmission Projects) and now has a portfolio consisting of over 5000 circuit kilometers of EHV lines and 3 substations. When operational, this portfolio will deliver approximately Rs 1100 crores of tariff per year. Its first three projects are in final stages of construction whereas its first operational line 'Purnea to Biharsharif 400kV D/C' has been generating revenue since September 2013.

"We feel proud and fortunate to be selected by the Government of India to develop this iconic infrastructure project which will bring over 1000MW's of uninterrupted power to residents of the Kashmir valley. We look forward to commissioning this transmission link in record time with the help of the State Government, the Government of India, and the people of Jammu & Kashmir" said Pravin Agarwal, Director, Sterlite Technologies Limited

About Sterlite Grid Ltd.

Sterlite Grid Limited (SGL) is a wholly owned subsidiary of Sterlite Technologies Limited. SGL is in the business of developing power transmission systems on build-own-operate basis and is currently developing transmission projects across ten states of India.

About Sterlite Technlogies Ltd.

Sterlite Technologies Limited (STL) develops & delivers products, solutions and infrastructure for telecom & power transmission networks, globally. STL is among the global leaders in all its business areas of Optical Fiber, Fiber Optic Cables, Power Conductors and HV / EHV Power Cables through its operations in India, China & Brazil. As the most integrated Optical Fiber Company in the world, STL is also pioneering FTTH deployment in the country to enable high speed broadband connectivity. STL is developing several transmission infrastructure projects spanning over 3000 Kms, across India. Listed on Stock Exchanges BSE & NSE in Mumbai, India, Sterlite Technologies is a public company with broad shareholder base. 

Media Contact : Ravindra Utgikar, [email protected], +912030514000, Sterlite Technologies Ltd.