Dilip Buildcon Limited (DBL) has emerged as the successful L-1 bidder for a significant power transmission project in Karnataka, awarded by REC Power Development and Consultancy Limited (RECPDCL). The project entails setting up a 400 kV sub-station at Mekhali in Belagavi District, along with the construction of associated 400 kV and 220 kV transmission lines, aimed at strengthening the region’s power transmission infrastructure.
The project will be executed under a Build, Own, Operate, and Transfer (BOOT) model through a Tariff-Based Competitive Bidding (TBCB) route. As the winning bidder, Dilip Buildcon will hold 100% equity in the Project Special Purpose Vehicle (SPV) and act as the Transmission Service Provider (TSP). The company’s responsibilities include the full lifecycle of the project, from development, financing, design, engineering, and procurement to construction, testing, and commissioning. Once operational, Dilip Buildcon will also undertake the operation and maintenance of the assets throughout the project tenure.
The Engineering, Procurement, and Construction (EPC) value of the project is estimated at ₹1,850 crore, excluding GST. The project is structured under a tariff-based annuity model, with an operational period of 35 years starting from the Commercial Operation Date (COD). According to the Request for Proposal (RFP), the construction and commissioning phase is scheduled to be completed within 24 months from the effective date, highlighting the ambitious timeline for execution.
In line with SEBI regulations and its internal code of conduct to prevent insider trading, Dilip Buildcon has informed the Bombay Stock Exchange and the National Stock Exchange of India about the contract award. Consequently, the trading window for the company’s securities will remain closed for all designated persons and insiders until 48 hours after the information has been publicly disclosed. The company also confirmed that the contract was awarded by a domestic entity and does not involve any related party transactions or promoter group interests.
This project is expected to enhance Karnataka’s transmission capacity, supporting improved power reliability and strengthening the state’s energy infrastructure while marking another milestone for Dilip Buildcon in the power sector.
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