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Home >> Market >> News >> News Details

Corporate News
06-Dec-2018     18:27

Outcome of board meeting of REC

The Board of REC at its meeting held on 05 December 2018 approved the following -

1. Incorporation of Joint Venture Company between REC Transmission Projects Company (RECTPCL) and Maharashtra State Electricity Transmission Company (MSETCL) for exploration of new business opportunities in Power Sector in India and abroad;

2. Sale and transfer of Jawaharpur Firozabad Transmission, a wholly-owned subsidiary of RECTPCL and also of REC (in terms of Section 2(87) of the Companies Act, 2013), to Power Grid Corporation of India, which has emerged as the Successful Bidder (L1), through Tariff Based Competitive Bidding Process, for 'Evacuation of Power from 2 x 660 MW Jawaharpur Thermal Power Project and construction of 400 kV substation at Firozabad along with associated Transmission Lines'.

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