GIC collaborates with Vedanta’s Sterlite Transmission for $1 bn venture

To draw on the rising demand for power evacuation networks in the country, Sterlite Power Transmission (SPTL) is collaborating with Singapore’s sovereign wealth fund, GIC, to set up a $1-billion joint venture platform, according to a report by The Economic Times (ET). Sterlite Power Transmission (SPTL) is a privately held Vedanta Group firm.

At the present moment, SPTL is in the process of separating into two businesses. One business will house the infrastructure division that develops and operates power transmission assets on a build-operate-transfer (BOT) basis. The other part will accommodate the domestic production business of cables and conductors.