Dilip Buildcon emerges L-1 bidder for Rs 1,265 crore transmission project; stock reacts

Dilip Buildcon Ltd has been declared the L-1 bidder by REC Power Development and Consultancy Ltd (RECPDCL) for the development and operation of an intra-state transmission system in Maharashtra, the company said in a BSE filing on Monday.

The project involves the establishment of a 400 KV GIS Solapur/Paranda Switching Station in Dharashiv district. It will be implemented under the Build, Own, Operate and Transfer (BOOT) model through the Tariff Based Competitive Bidding (TBCB) route.

Under the award, Dilip Buildcon will acquire 100 per cent equity in the project special purpose vehicle (SPV) and act as the Transmission Service Provider (TSP) for the development, ownership, operation and maintenance of the intra-state transmission system.

RECPDCL is acting as the Bid Process Coordinator (BPC) on behalf of Maharashtra State Transmission Utility.

The construction and commissioning of the project are to be completed within 24 months from the effective date, as per the request for proposal (RFP). The transmission project will be operated for 35 years from the Commercial Operation Date (COD) after the construction period.

The company said the EPC value for Dilip Buildcon, excluding GST, stands at Rs 1,265 crore. The project is being awarded under the TBCB model and is governed by the Transmission Service Agreement (TSA).

Dilip Buildcon added that its trading window for insiders, designated persons and other covered entities will remain closed until 48 hours after the information is made generally available to the public, in accordance with applicable insider trading regulations.

Following the announcement, Dilip Buildcon shares were last seen trading 1.05 per cent higher at Rs 429.70.