REC Forms New Step-Down Subsidiaries for Transmission Projects

MT Newswires Live11-19

REC (NSE:RECLTD, BOM:532955) has incorporated two step-down subsidiaries named WRNES Talegaon Power Transmission and Khavda V-BIB2 Power Transmission, according to a Monday filing with the stock exchanges.

The two companies are wholly-owned subsidiaries of REC Power Development and Consultancy, which is wholly owned by the company.

WRNES Talegaon been incorporated for transmission scheme for network expansion scheme in the western region to cater to pumped storage potential near Talegaon in Pune, India.

Meanwhile, Khavda V-BIB2 is formed for transmission scheme for augmentation of transformation capacity at KPS1 (GIS) and KPS2 (GIS).

Shares of the company were up nearly 3% in recent trade.

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