Dilip Buildcon has been selected by RECPDCL for a Maharashtra intra-state transmission project, with the EPC component valued at ₹1,265 crore excluding GST.
Dilip Buildcon has been selected as the successful bidder by REC Power Development and Consultancy Ltd (RECPDCL) for a Maharashtra intra-state electricity transmission project. The company disclosed the development in a stock exchange filing.
The project involves the development of a 400 kV GIS Solapur/Paranda switching station in Dharashiv district, Maharashtra. It will be implemented under the build-own-operate-transfer (BOOT) model through the tariff-based competitive bidding (TBCB) route.
The EPC component of the project is valued at ₹1,265 crore, excluding goods and services tax (GST).
Dilip Buildcon to Develop Maharashtra Transmission System
RECPDCL is acting as the bid process coordinator on behalf of the Maharashtra State Transmission Utility.
Under the project terms, Dilip Buildcon will acquire 100% equity in the project special purpose vehicle (SPV). The company will also act as the transmission service provider.
Its responsibilities will include the development, ownership, operation and maintenance of the intra-state transmission system. These activities will be carried out under a transmission service agreement.
Project Covers Construction and 35-Year Operation
The scope includes development, financing, design, engineering, procurement, construction, testing and commissioning of the transmission assets.
Dilip Buildcon will also be responsible for the operation and maintenance of the system.
Construction and commissioning are scheduled for completion within 24 months from the effective date, as specified in the request for proposal. After the commercial operation date, the transmission system will be operated for 35 years.
Dilip Buildcon Confirms Domestic Contract
The company said the project was awarded by a domestic entity and would be implemented under the TBCB model.
Dilip Buildcon also stated that neither its promoter nor promoter group companies have any interest in the entity awarding the contract. According to the filing, the transaction does not fall under related-party transactions.
Source: Business Standard
