PORTLAND, Ore., Feb. 16, 2016 (GLOBE NEWSWIRE) -- Erickson Incorporated (NASDAQ:EAC), a leading global provider of aviation services, is partnering with Sterlite Grid to install nearly 160 power transmission towers in the challenging terrain of the Pir Panjal mountain range in northern India using Erickson’s S64 Aircrane. The initiative will be the first time transmission lines are constructed utilizing a precision heavy lift helicopter in India.
Sterlite Grid, India’s largest private developer of independent power transmission systems expects to complete the transmission network between the Indian states of Punjab and Jammu and Kashmir nearly 10 months ahead of schedule utilizing Erickson’s aerial expertise in setting transmission towers. The work is set to commence in mid-2016.
Sterlite Grid is building ~ 450 kilometers of transmission lines and 400 220-kilovolt gas insulated substations (GIS) in Amargarh. To complete this line, nearly 1,150 towers will have to be erected in some of the most challenging terrains of Pir Panjal in the inner Himalayan region.
Erickson will assist Sterlite Grid by flying materials and steel as well as utilizing the Aircrane’s high precision lift capability to erect the towers along the powerline. The work will be performed at altitudes between 9,000 and 12,500 feet in a remote region of the Himalayas. Erickson has 40 years of experience building transmission towers utilizing the Aircrane in similarly remote and austere environments.
“We, at Sterlite Grid, are committed to the nation’s vision to electrify every home in a time-bound manner. We strongly believe innovation and cutting-edge technologies will be the key driver to achieve faster growth. We are glad to introduce a global leader like Erickson to the potential of India’s infrastructure sector and look forward to working with the company on future projects,” said Pratik Agarwal, Vice Chairman, Sterlite Power Grid Ventures Limited.
“Erickson is excited to have been awarded this strategic contract in India by Sterlite Grid. India is a large market for Erickson and we believe we can offer a competitive advantage in the construction of infrastructure projects in the country. As a business, we are pivoting towards long-term, infrastructure projects in the emerging and developing markets. We are looking forward to building a long-term relationship with Sterlite Grid and India,” said Jeff Roberts, Erickson President and CEO.
About Sterlite Grid
Sterlite Power Grid Ventures Limited is a subsidiary of Pune-headquartered Sterlite Technologies Limited (BSE: 532374, NSE: STRTECH). In a short span, Delhi-based Sterlite Grid has built a strong portfolio of eight projects spanning nearly 6,000 Circuit Km, entailing an investment of ~ Rs 10,000 Crore. It owns and operates ~ 3,200 Circuit Km, under four of the operating projects, across eight states in India. It is also the first Indian developer to deploy aerial technologies such as LiDAR survey and helicopter-aided construction in India, reducing the commissioning time.
Erickson is a leading global provider of aviation services and operates, maintains and manufactures utility aircraft to safely transport and place people and cargo around the world. The Company is self-reliant, multifaceted and operates in remote locations under challenging conditions specializing in Global Defence and Security, Manufacturing and MRO, and Commercial Services (comprised of firefighting, HVAC, power line, construction, timber harvesting, oil and gas and specialty lift). With roots dating back to 1960, Erickson operates a fleet of approximately 80 aircraft, and is headquartered in Portland, Oregon, USA, and operates in North America, South America, Europe, the Middle East, Africa, Asia Pacific, and Australia. For more information, please visit our new website at www.ericksoninc.com.
This press release contains certain statements relating to future results (including, without limitation, “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “predict”), which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including certain other risks or uncertainties more fully described under the heading “Risk Factors” in our most recently filed Annual Report on Form 10-K as well as in the other reports we file with the SEC from time to time, which are available at the SEC’s web site located at http://www.sec.gov. You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
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