Sterlite Power Transmission on Wednesday announced financial closure of a transmission project through Rs 800-crore underwriting project finance facility from Yes BankBSE 4.19 %.
The transmission project will increase power supply by 2,000-3,000 mw to northern region and strengthen transmission network. The financial closure was achieved with Yes Bank's underwriting project finance
facility of Rs 800 crore for 15 years, an official statement said.
"We are confident of commissioning the project ahead of schedule, as we have done in our other projects," Sterlite Power chairman Pravin Agarwal said.
The project to be commissioned by a special purpose vehicle entails 170 Km transmission line and three sub-stations.
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