Dilip Buildcon has secured a transmission contract worth Rs 1,256 crore in Mumbai. The infrastructure company emerged as the successful bidder for REC Power Development and Consultancy’s project. The latter acted as the bid process coordinator on behalf of Maharashtra State Transmission Utility. 

Dilip Buildcon to establish switching stations in Maharashtra

Under the scope of work, Dilip Buildcon will develop and operate intra-state transmission systems for REC. The project will be carried out through a tariff-based competitive bidding for the establishment of a 400-kilovolt Gas Insulated Switchgear (GIS) in Solapur/Pranda switching station located in the Dharashiv district of Maharashtra. 

The construction period for the project stands at 24 months, while Dilip Buildcon will operate the facility for 35 years. 

“Development and Operation of Intra State Transmission System for Transmission of Electricity Through Tariff Based Competitive Bidding for Establishment of 400 KV Gis Solapur/ Paranda Switching Station (Dist. Dharashiv), Maharashtra” for a period of 35 years from Commercial Operation Date (COD) after Construction Period of 24 months,” the company said in its exchange filing. 

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Dilip Buildcon emerged as the lowest price bidder to acquire 100% equity of the project’s special purpose vehicle, and the company will function as the transmission service provider for the contract. 

Its work would comprise development, ownership, operation and maintenance of the Intrastate transmission system on a Build, Own, and Transfer basis. This would be done under a tariff-based competitive bidding route and transmission service agreement. The project value stands at Rs 1,256 crore, exclusive of GST. 

Dilip Buildcon share price

Dilip Buildcon’s share price was down 1% in Monday’s intraday session. Over the past one month, its stock has increased by 1%, while over the past six months, its stock has delivered a return of 4%. 

About Dilip Buildcon

Dilip Buildcon is an Indian engineering, procurement and construction (EPC) company engaged in large infrastructure projects across the country. The company works in sectors such as roads and highways, rail and metro, airports, mining, irrigation, tunnels, bridges, urban development and power transmission.