Techno Electric partners with IndiGrid for developing greenfield transmission projects.

Techno Electric, today announced that it has partnered with Indigrid to collaboratively undertake development of two of the IndiGrid's greenfield Interstate Transmission System (ISTS) projects and signed the Securities Subscription Cum Shareholders Agreement ("SSSHA"). Under this partnership, Techno Electric will co-develop and invest in IndiGrid's two ISTS projects i.e.Ishanagar Power Transmission Limited (IPTL) and Dhule Power Transmission Limited (DPTL). Techno will invest minority capital and will also be responsible for the complete execution of the projects on a Lump Sum Turnkey (LSTK) basis.

Techno Electric Chairperson, Mr. padam Prakash Gupta, highlighted: "As a pioneer and lead in the energy transmission sector, Techno is immensely proud and honored to collaborate with IndiGrid, in advancing India's transmission story. This partnership represents @ significant milestone for us, reflecting our commitment to leading the transformation of the energy landscape in India. With our deep execution capabilities, a strong balance sheet, and a shared vision for sustainable growth, we view this collaboration as a long-term strategic partnership that will shape the future of energy transmission in the country."

Shares of Techno Electric & Engineering Company Limited was last trading in BSE at Rs. 1646.95 as compared to the previous close of Rs. 1568.55. The total number of shares traded during the day was 3255 in over 185 trades.

The stock hit an intraday high of Rs. 1646.95 and intraday low of 1594.90. The net turnover during the day was Rs. 5337281.00.

Source : Equity Bulls

Keywords

TechnoElectricandEngineeringCompany INE285K01026 Partnership Indigrid