India, Sept. 10 -- Dilip Buildcon Ltd said it has signed definitive agreements to divest its stake in Mekhali Power Transmission Ltd, the special purpose vehicle developing its under-construction power transmission project in Karnataka, to Alpha Alternatives Fund Advisors LLP and/or its affiliates and managed funds.
The transmission project, with an estimated total cost of around Rs 2,171 crore, involves the development of a 400-kilovolt substation and approximately 470 circuit kilometres of transmission infrastructure in Belagavi district.
The project is being developed under a Transmission Service Agreement with Karnataka Power Transmission Corporation Ltd on a build-own-operate-transfer basis, with commercial operations targeted for mi...