KPTL Bags Transmission and Distribution Projects With Rs 1300 Cr

KPTL has received orders worth Rs 1,300 crore from India and the overseas market in the power transmission and distribution (T and D) space.

Engineering, Procurement and Construction (EPC) company Kalpataru Power Transmission Limited (KPTL) has announced that it has received orders worth Rs 1,300 crore from India and the overseas market in the power transmission and distribution (T and D) space.

The company said that it has received EPC orders for pipeline laying and associated works in India and order for railway electrification, adding that KPTL’s international subsidiary has secured new T and D projects in Europe too.

“We continue to focus on expanding our international operations in all our business verticals for KTPL and JMC. The process of divestment of TandD assets is also on track and we expect to be net debt free in 2021,” Manish Mohnot, Managing Director and CEO, KPTL said on the development.

KPTL is present in power transmission and distribution, oil and gas pipeline, railways, infrastructure development, civil contracting and warehousing and logistics business with an international presence in power transmission and distribution. The company is currently executing contracts in India, Africa, Middle East, CIS, SAARC and the Far East.

In September, we had reported that the firm and its joint venture partner have completed 74 percent equity stake sale in Jhajjar KT Transco Pvt Ltd (JKTPL) to IndiGrid. KPTL had completed the sale of about 37.78 percent of equity shares (which includes 1.32 percent equity shares held by KVPL and acquired by the Company), the filing added.

In July, we had reported that Adani Transmission Ltd (ATL) had signed definitive agreements with Kalpataru Power Transmission Ltd (KPTL) for acquiring Alipurduar Transmission Ltd in a manner consistent with Transmission Service Agreement and applicable consents. The Enterprise value for the project was ascribed as Rs 1,286 crore. It was stated that with this acquisition, the cumulative network of ATL will reach more than 15,400 ckt kms, out of which more than 12,200 ckt kms (including this asset) is operational and more than 3,200 ckt kms is under various stages of execution.