Sterlite Power in a 50:50 partnership with AMP Capital

Electricity transmission infrastructure company Sterlite Power has got into a 50:50 partnership with global investment manager AMP Capital to develop four transmission projects in the country. Both the companies will invest $150 million each on the development of 1,800 km of transmission lines.

The partnership has the potential to reach an overall investment size of $500 million, as the partners may in the future contribute further capital for new inter-state transmission projects which are expected to be tendered by the government of India, the companies said in a statement.

Amp Capital, owned by Australia-based AMP, has $21 billion infrastructure equity and debt assets under management.

Globally, Sterlite has developed power transmission infrastructure projects of over 13,700 circuit km. In August last, Sterlite had announced the sale of its 14.7 per cent stake in India Grid Trust InvIt for Rs 840 crore.  Incidentally, the company had sold eight assets worth about Rs 11,500 crore to IndiGrid  while another Rs 6,500 crore is likely to be transferred in the current financial year.