Tata and Adani to bid for UP Power Transmission Co

22 Jan 2022 CW Team

Tata and Adani are set to bid for the South-East Uttar Pradesh Power Transmission Company for the third time.

Tata Power had outbid Adani, offering 100% loan recovery of Rs 3,700 crore to the lenders. Adani's bid was marginally low. However, Tata Power's bid was set aside because it was conditional. Tata and Adani submitted their first bid in August and then in October. The third round of bidding is set for January end.

Tata Power has requested the lenders to consider the Swiss challenge based on the fact that it was the highest bidder in the last round and should get a chance to match the best bid.

According to the sources, Vedanta Group company Sterlite Power, Power Grid Corporation of India and REC Power Development and Consultancy Limited (REC PDCL) also participated in the earlier round of bidding.

South-East UP Power Transmission Company's resolution professional, Shailesh Verma, invited companies to submit an Expression of Interest (EoI) to buy the company to prospective bidders. Total eight companies submitted EoI.

Other companies that submitted expression of interest (EoI) were Torrent Power, Megha Engineering, and a sovereign wealth fund.

South-East UP Power Transmission Company was accused of Insolvency and Bankruptcy Code (IBC) at the National Company Law Tribunal (NCLT) after it defaulted on loans to a group of lenders, including Rural Electrification Corporation (REC), Power Finance Corporation, Bank of India and Axis Bank.

The company witnessed financial issues after its owner Isolux Corsan filed for bankruptcy in Spain.

Isolux Corsan had won 35 years of concession to build and operate a power transmission network in UP across 1,600 km in 2011.

Image Source

Also read: Posco, Adani Group to set up $5 billion Mundra steel mill

Also read: Around 80% of creditors approve Adani's bid for Radius Estates

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..