As a part of the deal, KPTL will sell three assets- Kalpataru Satpura Transco Private, Alipurduar Transmission and Kohima Mariani Transmission. The deal will help the company pare debt.
“The sale of assets will lead to a significant reduction in KPTL’s consolidated debt and will help focus on strategic diversification within the core business. KPTL will continue to focus on sustainable and profitable growth with the commitment to improve return ratios," Manish Mohnot, managing director and chief executive officer of KPTL said.
The transaction is subject to requisite approvals and compliances. The transaction for Alipurduar Transmission and Kohima Mariani Transmission, where Techno Electric & Engineering owns 26% stake, will be effective after the Commercial Operation Date and fulfilment of certain conditions.
The estimated amount of debt at the SPVs levels would be approximately Rs 2,000 crore at the time of COD.
“Besides value accretive for KPTL, this will provide impetus and encourage global players to take an active part in the growing infrastructure sector in India. The company will continue to synergize its EPC expertise and undertake larger projects in future," said Pawan Kant, President (Long Term Assets & PPP), KPTL.
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