Adani took control of Essar Transco. The game is now in motion!
CHENNAI: gautam adani, the second-richest man in India, has made significant financial investments in the nation's infrastructure development. In addition to growing the current business, he has also taken on rival businesses and businesses in the same industry. 

Adani Energy Solutions Ltd announced on thursday that it has purchased Essar Transco Ltd for an enterprise value of ₹1,900 crore, after the appropriate clearances.

In june 2022, the two businesses inked an acquisition agreement. Mahan in madhya pradesh and the Sipat Pooling substation in chhattisgarh are connected by a 400 kV, 673 circuit km transmission line owned by Essar Transco. The adani Group is heavily involved in the production and distribution of power, which is essential to the nation's progress.
 
Through investments and business acquisitions, it keeps growing. adani Transmission Step Two Limited (ATSTL), a division of adani Energy Solutions, purchased Essar Transco. Essar Transco is currently a subsidiary of adani Transmission Step Two following the completion of the takeover.

Adani Energy Solutions said in a statement that with the acquisition of Essar Transco, its total network has increased to 21,182 circuit kilometers, of which 18,109 are in use and 3,073 are in various stages of construction.
 
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Sindujaa D N

17/05/2024 02:38 PM