Sterlite wins $160 mn power project for northeast

PUNE - Fibre-optic cable manufacturer Sterlite Technologies has won a project worth $160 million (Rs.800 crore) for developing a power transmission network in northeastern India, the company said in a regulatory filing Monday.

The project has been awarded to the Sterlite Technologies on Build, Own, Operate and Maintain (BOOM) basis wherein the company would commission the transmission lines within three years and then operate and maintain it for at least 22 years.

The work has been awarded by Power Finance Corporation (PFC) which operates under the ministry of power.

According to a statement released by the company, the East-North interconnection mega transmission project would help evacuate power from the north-east and eastern states to the northern region.

This is the first Mega Independent Power Transmission Project to be awarded in India. Two 400 KV double circuit transmission lines which will be developed under this project will connect the north-eastern states like Assam with West Bengal and Bihar, the company said.

Sterlite Technologies contributes to the global power sector through indigenous manufacturing of power distribution conductors.

The award of this project provides a great scope to diversify into the growing sector of power transmission with many similar opportunities available in the future, chief executive officer Anand Agarwal said.