Power Grid Corporation of India Limited (Powergrid) has acquired Mohanlalganj Transmission Limited (MTL) in Uttar Pradesh for over Rs 91.1 million, including 10,000 equity shares at par of Rs 10 each along with assets and liabilities of the company as on the acquisition date.
MTL is the special purpose vehicle project to establish an intra-state transmission system for construction of 400/220/132 kV gas-insulated switchgear (GIS) substation, Mohanlalganj (Lucknow) with associated 400 kV lines, and other 765 kV and 400 kV line in line out (LILO) lines at 765 kV GIS substation Rampur and 400 kV LILO (quad moose on monopole) at 400 kV GIS substation Sector 123 Noida. The project is acquired under tarrif-based competitive bidding route and will be developed on build, own, operate and maintain basis. The bid process coordinator of the project is PFC Consulting Limited. The transmission system is to be completed in 18 months.