Kalpataru Power Transmission Ltd selected as one of the preferred proponent to deliver transmission project in Australia

Kalpataru Power Transmission Limited (KPTL), one of the largest specialized EPC companies, today announced that it has been selected with Acciona Construction Australia Pty Ltd and Genus Plus Group Ltd, as the Preferred Proponent to deliver Transgrid's HumeLink (East) transmission line project in Australia. The value of the project will be determined post conclusion of Early Contractor Involvement (ECI) Stage 2 process.

HumeLink involvesthe construction of an approximately 356km transmission line in New South Wales, Australia. HumeLink's construction has been split into two sections (east and west) and involves new transmission lines and new or upgraded infrastructure at four substation locations. KPTL along with Acciona Construction Australia Pty Ltd and Genus Plus Group Ltd will work in a Joint Venture arrangement to deliver the eastern section of the HumeLink project. HumeLink is a nation-critical transmission project, which will help secure supply for millions of Australians as ageing coal-fired power stations are retired.

Manish Mohnot, MD & CEO, KPTL, said, "We are excited and proud to be working for Transgrid along with Acciona and Genus on this project that will help Australia move towards a cleaner energy future. The HumeLink project will play a big role in Australia's vision to achieve net zero emissions. We are confident in our EPC abilities, especially our global project delivery expertise and design and engineering abilities, to construct and deliver this landmark project in Australia".

Sanjay Dalmia, Executive Director, KPTL said "We have deep expertise in managing large, complex EPC projects. Our global expertise has allowed us to expand our horizons from Chile in the Far West to Australia in the Far East. KPTL together with Acciona Construction Australia Pty Ltd and Genus Plus Group Ltd are well positioned to help Transgrid deliver the HumeLink project successfully."

Shares of Kalpataru Power Transmission Limited was last trading in BSE at Rs. 546.70 as compared to the previous close of Rs. 530.20. The total number of shares traded during the day was 25951 in over 1696 trades.

The stock hit an intraday high of Rs. 554.35 and intraday low of 530.80. The net turnover during the day was Rs. 14118100.00.

Source : Equity Bulls

Keywords

KalpataruPowerTransmission INE220B01022 KPTL PreferredProponent Transgrid HumeLinkEast TransmissionLineProject Australia