New Delhi (September 23, 2015): The country's largest private developer of independent Power Transmission Systems, Sterlite Power Grid Ventures Limited (Sterlite Grid) and the global leader in Transmission and Distribution Engineering, Burns & McDonnell International, Inc. have signed an agreement to apply world class engineering and construction methodologies on Transmission Projects in India. Sterlite Grid and Burns & McDonnell will be initially working on Northern Region System Strengthening 29 (NRSS 29) Project, which will carry 2,000 megawatts (MW) power to energy starved region of Kashmir Valley from the power-surplus state of Punjab.
Sterlite Grid will invest close to Rs 3,000 Crore towards this critical asset comprising of 900 circuit kilometres (Ckm) of Transmission lines and 400 kilovolt (kV) Gas Insulated Substation (GIS) at Amargarh. Responding to the urgency expressed by the Central and State governments, Sterlite Grid has committed to implement this 50 months project in less than 40 months.
"We, at Sterlite Grid, are committed to a cause that not a single unit of electricity should remain unused due to the lack of transmission infrastructure. To achieve this, we would like to eliminate transmission line delays by delivering these projects in half the benchmark time. Our partnership with Burns and McDonnell will help us achieve this goal by bringing cutting edge technologies to India." said Pratik Agarwal – Vice Chairman, Sterlite Grid.
Due to extreme climatic conditions in Jammu & Kashmir, there will be a limited window for construction. Sterlite Grid will work with Burns & McDonnell to implement innovative designs and mechanised construction, which may include Heli-crane construction, micro-pile foundations, and special tower designs that would enable the project to be commissioned faster. Earlier this year, Sterlite Grid became the first ever private enterprise awarded by the Ministry of Power for early commissioning of Transmission Systems – 765 /400 kV – 2x 1500 MVA substation at Dhule.
"Burns & McDonnell is excited about the opportunity to work with Team Sterlite Grid on this challenging project in Kashmir Valley," says Jim Hogan, Senior Vice President of Burns & McDonnell's Transmission & Distribution Division. "Our engineers and construction specialists are committed to exploring methods to reduce the time needed to construct this important Transmission Line which will strengthen the electric grid and bring much needed power to Jammu & Kashmir."
The Central Government has set a vision to augment and expand the power transmission infrastructure in the country, and attract private investments for building transmission systems. It also wants to commit that capital intensive power plants like thermal and solar plants do not remain stranded due to delay in power evacuation.
Keeping in mind the Govt. of India's ambitious mission to generate 100,000 MW Solar Power across the country, it is of utmost importance that Transmission infrastructure is constructed in the least possible time to match the short development time frame of Solar Plants. Sterlite Grid expects that Transmission systems will have to be constructed on an accelerated time schedule of 12-16 months, compared to current average of 30-40 months.
About Sterlite Grid
Pune headquartered Sterlite Technologies Limited (BSE: 532374, NSE: STRTECH), ventured into the power transmission sector through Sterlite Power Grid Ventures Limited in 2010. In a short span, Delhi based Sterlite Grid has built a strong portfolio of seven projects spanning nearly 5,500 Circuit Kms, entailing an investment in excess of Rs 8,500 crore. The company is known for its pioneering work in inducting aerial technologies such as LiDAR Survey and Heli-Stringing for transmission project execution in India. Sterlite Technologies is among the global leaders in all its business areas of Optical Fiber, Fiber Optic Cables, Power Conductors and HV / EHV Power Cables through its operations in India, China & Brazil.
About Burns & McDonnell
Burns & McDonnell is a company made up of more than 5,200 engineers, architects, construction professionals, scientists, consultants and entrepreneurs with offices throughout North America and the world. The Burns & McDonnell Transmission & Distribution (T&D) division is currently ranked as the second largest worldwide by Engineering News-Record magazine. With more than 1,000 T&D professionals, Burns & McDonnell delivers innovative design solutions, quality projects and constructed value via design/build EPC, program management, SCADA and telecommunications engineering, studies, planning, routing, permitting, physical and cyber security and much more. We strive to create amazing success for electric and gas utilities, industries and other power providers and amazing careers for our employee-owners. Burns & McDonnell is 100% employee-owned and is proud to be No. 15 on FORTUNE's 2015 List of 100 Best Companies to Work For. For more information visit http://burnsmcd.com
Forward-looking and cautionary statements: Certain words and statements in this release concerning Sterlite Technologies Limited and its prospects, and other statements relating to Sterlite Technologies' expected financial position, business strategy, the future development of Sterlite Technologies' operations and the general economy in India, are forward looking statements. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of Sterlite Technologies Limited, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Sterlite Technologies' present, future business strategies, and the environment in which Sterlite Technologies Limited will operate in the future. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, changes in government policies or regulations of India and, in particular, changes relating to the administration of Sterlite Technologies' industry, and changes in general economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Sterlite Technologies' control, include, but are not limited to, those risk factors discussed in Sterlite Technologies' various filings with the National Stock Exchange, India and the Bombay Stock Exchange, India. These filings are available at www.nseindia.com and www.bseindia.com.