Power Finance (NSE:PFC, BOM:532810) said its unit PFC Consulting has incorporated Saswad Transmission Limited as a wholly owned Special Purpose Vehicle, according to a Monday filing with the Indian bourses.
The SPV will develop a 400/220 kV transmission system at Saswad in Pune district of Maharashtra in India, the filing said.
PFC Consulting was appointed as the Bid Process Coordinator by Maharashtra State Electricity Transmission. As per guidelines, the SPV will carry out preparatory works including surveys, land acquisition, and forest clearance, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.