Dilip Buildcon Limited has emerged as the lowest bidder (L-1) for a major intra-state power transmission project in Maharashtra. The company disclosed the development through a regulatory filing submitted to BSE Limited and the National Stock Exchange of India.
The project has been awarded by REC Power Development and Consultancy Limited (RECPDCL), which is acting as the Bid Process Coordinator on behalf of the Maharashtra State Transmission Utility. The project involves the development of the 400 kV AIS Yavatmal (Babhulgaon) transmission system in Maharashtra’s Yavatmal district.
Under the project arrangement, Dilip Buildcon will acquire 100% equity in the Project Special Purpose Vehicle (SPV) and serve as the Transmission Service Provider. The project will be developed under the Build, Own, Operate and Transfer (BOOT) model through tariff-based competitive bidding.
Dilip Buildcon will undertake the complete development of the transmission system, including project financing, design, engineering, procurement, construction, testing, commissioning, operation and maintenance of the transmission assets.
The construction period for the project is 24 months from the effective date. Following commissioning and the Commercial Operation Date (COD), the company will be responsible for operating and maintaining the transmission system for 35 years.
The Engineering, Procurement and Construction (EPC) cost associated with the project is valued at ₹1,151.47 crore, excluding Goods and Services Tax (GST).
Dilip Buildcon stated that the project was awarded by a domestic entity through a competitive bidding process. The company also clarified that neither its promoter nor members of its promoter group have any financial or operational interest in RECPDCL. Accordingly, the transaction does not qualify as a related party transaction.
Following the disclosure, the company also announced the closure of its trading window in accordance with SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015, and its internal insider trading prevention procedures. The trading window will remain closed until 48 hours after the public disclosure of the development.
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