Rural Electrification Corporation incorporates 3 transmission SPVs as subsidiaries
Following the announcement, shares of REC were trading at Rs 325, up 0.12 per cent on the BSE.
NEW DELHI: State-run Rural Electrification Corporation today said it has formed three subsidiaries with a focus on as many number of power transmission projects.
" REC Transmission Projects, an arm of REC has incorporated three project specific Special Purpose Vehicles (SPVs) as its subsidiaries," REC said in a filing to the BSE.
The three SPVs -- Vemagiri II Transmission Limited, NER II Transmission Limited and Alipurduar Transmission Limited -- have been absorbed as subsidiaries of REC Transmission Projects.
The transmission projects or schemes include the strengthening of transmission system beyond Vemagiri, NER system strengthening system - II, and transmission system strengthening in Indian system for transfer of power from new hydel plants in Bhutan.
Following the announcement, shares of REC were trading at Rs 325, up 0.12 per cent on the BSE.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
