Edelweiss-backed firm eyes stakes in Rs 6,000 crore Essel Infra assets

By: | Published: October 17, 2018 1:56 AM

Edelweiss Infrastructure-backed Sekura Energy is looking to acquire stakes in four transmission assets from Essel Infraprojects.

Edelweiss-backed firm eyes stakes in Rs 6,000 crore Essel Infra assets

Edelweiss Infrastructure-backed Sekura Energy is looking to acquire stakes in four transmission assets from Essel Infraprojects. Sekura has signed an agreement to acquire stakes in Essel’s two operating power transmission projects, while stakes in the two under-construction assets would be acquired after their expected commissioning in FY20, a statement said.

“Total enterprise value of these four projects is `6,000 crore,” said Rohit Modi, CEO, Essel Infraprojects. This transaction is the first of the monetisation plans of the company, which plans to foray into sectors such as water, railways and municipal solid waste.

The projects were awarded to Essel Infra under the tariff-based competitive bidding category. The under-construction Warora-Kurnool project is expected to be complete in November, 2019 while the NRSS XXXVI transmission project for power supply to Uttarakhand should be complete in December, 2019.

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