Power Finance Corporation (NSE:PFC, BOM:532810) said its wholly owned subsidiary PFC Consulting has incorporated Rundh Gidawara Transmission as a special purpose vehicle for a 765-kV substation at Rundh Gidawara in Alwar, Rajasthan, and its associated transmission system.
The SPV will undertake preparatory work for the project and be transferred to the successful bidder selected through tariff-based competitive bidding, according to a Thursday Indian bourse filing. The winning bidder will develop the transmission project.
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