Dilip Buildcon Ltd (DBL) has emerged as the L-1 bidder for a substantial intra-state transmission system project in Maharashtra. The company announced its selection by REC Power Development and Consultancy Ltd (RECPDCL) for the development and operation of the vital infrastructure.
Project Details and Scope
The project, valued at Rs 1,265 crore (excluding GST for the EPC component), focuses on establishing a 400 KV GIS Solapur/Paranda Switching Station in Maharashtra's Dharashiv district. This significant undertaking will be implemented under the Build, Own, Operate and Transfer (BOOT) model, following the Tariff Based Competitive Bidding (TBCB) route.
As part of the award, Dilip Buildcon will acquire 100 percent equity in the project's special purpose vehicle (SPV). The company will also serve as the Transmission Service Provider (TSP), responsible for the entire lifecycle of the intra-state transmission system, including its development, ownership, operation, and maintenance.
Timeline and Coordination
RECPDCL is acting as the Bid Process Coordinator (BPC) for the project on behalf of the Maharashtra State Transmission Utility. According to the Request for Proposal (RFP), the construction and commissioning of the transmission system are slated for completion within 24 months from the effective date.
Following the construction period, Dilip Buildcon will operate the transmission project for an extensive 35-year term, commencing from its Commercial Operation Date (COD).
Market Reaction and Compliance
Following the announcement of this major contract win, Dilip Buildcon's shares saw a positive reaction in the market. The company's stock was last observed trading 1.05 percent higher at Rs 429.70.
In adherence to applicable insider trading regulations, Dilip Buildcon has also stated 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.