Infrastructure major KEC International has signed project and novation agreements with Ad Transmission's subsidiary Warora Kurnool Transmission Ltd (WKTL) for Rs 477 crore to complete the balance work of transmission lines in Andhra Pradesh, Maharashtra and Telangana.
The pacts include release of earlier dues of the project. The execution of these transmission lines is expected to start shortly.
Ad Transmission had signed agreements with Essel Infraprojects Ltd on March 26 for acquisition of WKTL.
"We are pleased that work on this strategic project interconnecting the West to South is poised to restart," said Vimal Kejriwal, Managing Director and CEO of KEC International.
"The project along with the current tariff-based competitive bidding projects secured from Power Grid Corporation of India in the last quarter will contribute significantly towards revenue growth in the domestic transmission and distribution market."
KEC International is the flagship company of four billion dollar RPG Group. It is currently executing projects in over 30 countries and has a footprint in 100-plus countries.
( With inputs from ANI )
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