Dilip Buildcon has received a Letter of Intent for a power transmission project in Karnataka from REC Power Development and Consultancy(RECPDCL).
“Dilip Buildcon has received letter of Intent (LOI) by REC Power Development and Consultancy for “Establishing 400 kV Sub-station at Mekhali along with associated transmission lines (Belagavi District), Karnataka,” the company said in its regulatory filing on Wednesday.
REC Power Development and Consultancy (RECPDCL) is acting as the bid process coordinator on behalf of the Government of Karnataka.
Dilip Buildcon to acquire 100% stake in project SPV
The company will acquire 100% equity shares of the project’s special purpose vehicle (SPV) and will act as the transmission service provider for the project.
The construction and commissioning of the project are expected to be completed within 24 months from the effective date. The project will be executed under a tariff-based annuity model.
Project to be developed under BOOT model
Under the contract, Dilip Buildcon will develop, finance, design, engineer, procure, construct, test and commission the transmission assets. The company will also operate and maintain the project.
The project will be developed under the build-own-operate-transfer (BOOT) model through the tariff-based competitive bidding route. It will be executed under a transmission service agreement.
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. In 2025, Dilip Buildcon expanded its wings to new business sectors like ICT business, Bauxite mining, Solar power, and Power Transmission.
Dilip Buildcon Share price
The share price of Dilip Buildcon is trading flat in the intraday sessions. The stock has gained 8.1% in past one week and 2.73% in past three months. However, it declined 11.82% in past six months.