RInfra signs agreement to transfer its WRSSS biz to Adani Transmission
Tuesday, Oct 10, 2017
Reliance Infrastructure Limited (RInfra) announces the signing of Business Transfer Agreement for transfer of its Western Region System Strengthening Scheme (WRSSS) Transmission Undertakings.

WRSSS B & C Undertakings are being transferred to its two subsidiaries as part of process of sale of the businesses to Adani Transmission Limited. Earlier in December 2016, RInfra has entered into Share Purchase Agreement with Adani Transmission Limited for sale of WRSSS valuing the businesses at Rs 1,000 Crore.

All key approvals (CCI, CERC and lenders) have been obtained and transaction is expected to be closed shortly.

The entire sale proceeds shall be utilized for debt reduction.

Reliance Infrastructure Limited

Reliance Infrastructure Limited (RInfra) is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.

RInfra is also a leading utility company having presence across the value chain of power businesses i.e. Generation, Transmission, Distribution and Power Trading.

RInfra, through its SPVs, has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; eleven road projects with total length of about 1,000 kms on build, operate and transfer (BOT) basis.

RInfra also provides Engineering, Procurement and Construction (EPC) services for developing power and road projects.

The Company has entered into the defence sector. The Maharashtra Government has allotted land at Mihan near Nagpur for the development of India's first smart city for the defence sector known as Dhirubhai Ambani Aerospace Park (DAAP). RInfra associate Reliance Naval & Engineering Ltd, houses India’s largest dry dock facility to build warships and other naval vessels.

For more information, please visit: http://www.rinfra.com

Featured Profile

Featured Videos

Featured Case Studies