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Last Updated : Nov 17, 2020 11:22 AM IST | Source: Moneycontrol.com

Kalpataru Power shares jump 4% after commissioning of Kohima-Mariani power transmission project

KMTL was set-up to implement a transmission system under North Eastern Region Strengthening Scheme (NERSS-VI) on Build Own Operate and Maintain (BOOM) basis.

 
 
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Kalpataru Power Transmission share price jumped 4 percent intraday on November 17 after the company commissioned power transmission project.

The company said it has fully commissioned Kohima-Mariani power transmission project which is a joint venture between KPTL and Techno Electric & Engineering Company (TEECL) with KPTL holding 74 percent of equity.

KMTL has now successfully commissioned Element-2 (Imphal-New Kohima Line) of the project. With this, the project stands completed, KPTL said in a statement after market hours on Friday, 13 November 2020.

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KMTL was set-up to implement a transmission system under North Eastern Region Strengthening Scheme (NERSS-VI) on Build Own Operate and Maintain (BOOM) basis. Earlier in July 2020, KMTL had commissioned Element-1 (Substation) and Element-3 (New Kohima - New Mariani Line).

The project was won under a competitive bidding process conducted by PFC Consulting (PFCCL). The scope of work involved designing, financing, constructing, commissioning and operating of 254 kms of 400 KV transmission line. The transmission line passes through three states i.e. Manipur, Nagaland and Assam.

"We are pleased to announce the complete commissioning of the KMTL Transmission Asset. In line with our business plan, we will now swiftly proceed towards the divestment phase of KMTL. This asset has already been divested to CLP India and the process of transaction closure will be completed soon. The successful implementation and divestment of T&D assets reinforces, complements and accelerates KPTL's strategy to drive future growth in the core EPC business and enhance shareholder value," said Manish Mohnot, MD & CEO of KPTL.

The stock was trading at Rs 290.50, up Rs 11.45, or 4.10 percent at 10:41 hours. It has touched an intraday high of Rs 296 and an intraday low of Rs 284.
First Published on Nov 17, 2020 11:21 am
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