Ceigall India Ltd, one of India’s fastest-growing EPC companies, has received a Letter of Intent (LOI) from REC Power Development and Consultancy Limited (RECPDCL) to construct a 400/220 kV Gas Insulated Substation (GIS) in Velgaon, Maharashtra, under the Tariff-Based Competitive Bidding (TBCB) mechanism.
The Velgaon GIS project is slated for completion over two years, followed by a 35-year operation and maintenance term. The project entails an annuity of Rs 58.5 crore per year over 35 years, against an EPC cost of approximately Rs 450 crore, ensuring long-term recurring cash flows and a stable asset base for Ceigall. The move also strengthens the company’s presence in high-voltage power transmission and distribution.
Ramneek Sehgal, Chairman & Managing Director of Ceigall India Ltd, said: “We are honoured to be entrusted with the Velgaon GIS project by REC Power. This demonstrates Ceigall’s engineering strengths and our commitment to delivering large-scale, future-ready infrastructure. The Velgaon substation will be a crucial addition to the regional power network, enhancing grid reliability and meeting the highest benchmarks of safety and performance.”
The LOI follows Ceigall’s strong project run in FY25–26, which includes national highway upgrades, bridge construction, mobility corridors, and urban infrastructure works. With this project, Ceigall continues to position itself as a sustainable infrastructure company while expanding its footprint in high-value engineering segments.
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