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FINWIRES

Ashoka Buildcon Acquires SPV for Power Transmission Project

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Ashoka Buildcon (NSE:ASHOKA, BOM:533271) acquired a project special purpose vehicle, Sakoli Power Transmission, from REC Power Development and Consultancy for 30.6 million Indian rupees.

The move comes so the company can undertake a transmission project in Bhandara district, Maharashtra, it was selected for by the seller, a Wednesday bourse filing said.

The scheduled date of commercial operation of the SPV is 24 months from the date of acquisition.

The target provides transmission services on a Build-Own-Operate-Transfer basis.

What else is happening in Asia?

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