Vedanta’s Sterlite Said To Transfer Three Power Projects To GIC Venture

The projects are still under development and the transfer into the Sterlite Grid 32 Ltd. joint venture has been agreed, the people said, asking not to be identified because the matter isn’t public.

19 Mar 2024, 08:15 AM IST

Woman walk past a Sterlite Power Transmission Ltd. transmission tower in Rajouri district, Jammu and Kashmir, India, on Thursday, Nov. 16, 2017. In Prime Minister Narendra Modi’s push to supply electricity to every Indian household, connecting homes in the state of Jammu & Kashmir might be the toughest. Along India’s violence-prone northern border, engineers and construction workers are electrifying one of the country’s most inhospitable states. Photographer: Dhiraj Singh/Bloomberg

(Bloomberg) --

Sterlite Power Transmission Ltd., a privately-held unit of mining company Vedanta Ltd., has transferred three Indian power transmission projects into its joint venture with Singaporean sovereign wealth fund GIC Pte, according to people familiar with the situation.

The projects are still under development and the transfer into the Sterlite Grid 32 Ltd. joint venture has been agreed, the people said, asking not to be identified because the matter isn’t public.

Representatives for Mumbai-based Sterlite declined to comment. GIC didn’t immediately respond to a request for comment.

The three transmission projects are in Kishtwar, Nangalbibra and Fatehgarh, one of the people said.

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