"The entire proceeds from the stake sale in Western Region System Strengthening Scheme (WRSSS) transmission undertakings shall be utilized for debt reduction," RInfra said in a release here.
Last month, RInfra had signed a business transfer agreement with Adani Transmission Ltd (ATL) in this regard.
The country's first 100 per cent private sector transmission project -- WRSSS B and C -- projects are located in Maharashtra, Gujarat, Madhya Pradesh and Karnataka.
In December 2016, RInfra had entered into a share purchase agreement with ATL, which in a separate statement said: "Adani Transmission attains a new milestone of 8,500 ckt kms (circuit kilometre) of transmission lines in operation by completing the acquisition of operational transmission assets of Western Region Strengthening System Schemes (WRSSS) - B and C of Reliance Infrastructure."
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.