Thursday, 8 December 2016

Adani Group may buy Isolux's Mainpuri-Bara project in UP

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Adani Group is in advanced talks to buy Isolux’s transmission project in Uttar Pradesh. The Group is likely to buy the 1,600-kilometre under-construction Mainpuri-Bara transmission line project. The cost of the project is around Rs 7,000 crore. The Adani Group is likely to take over the project post its completion. 

The Group does not want to put burden on Adani Transmission with debt on the project, which is up for sale due to delay. PFC and REC are likely to be the lenders for Isolux’s UP project. Adani Group and Isolux did not offer a comment on the above news.

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