Reliance Infrastructure (RInfra) on Wednesday announced it has completed the sale of the operational transmission assets of WRSS Schemes to Adani Transmission for Rs 1,000 crore.
"The entire proceeds from the stake sale in Western Region System Strengthening Scheme (WRSSS) transmission undertakings shall be utilized for debt reduction," RInfra said in a release here.
Last month, RInfra had signed a business transfer agreement with Adani Transmission Ltd (ATL) in this regard.
The country's first 100 per cent private sector transmission project -- WRSSS B and C -- projects are located in Maharashtra, Gujarat, Madhya Pradesh and Karnataka.
In December 2016, RInfra had entered into a share purchase agreement with ATL, which in a separate statement said: "Adani Transmission attains a new milestone of 8,500 ckt kms (circuit kilometre) of transmission lines in operation by completing the acquisition of operational transmission assets of Western Region Strengthening System Schemes (WRSSS) - B and C of Reliance Infrastructure."
--IANS
bc/vm
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