Essel Infra bags Rs 8,500-crore power transmission project

Essel Infrastructure has won the power transmission project to connect the nation's power grid to the southern region. It won the project through tariff-based competitive bidding route. The 765-Kv power transmission corridor at Rs 8,500 crore was put for bidding by Power Finance Consulting Corp. Among the qualified bidders were Essel Infra, Sterlite Grid, Adani Power, Reliance Power and state-owned PowerGrid Corp. The winning bid by Essel Infra was Rs 383.4 crore per annum. This is a levelised tariff for 35 years. Sterlite Grid quoted Rs 394.6 crore per annum. The project would be established on a build, own, operate and maintain basis.