Dilip Buildcon Ltd has been declared the L-1 bidder by REC Power Development and Consultancy Ltd (RECPDCL) for developing and operating an intra-state electricity transmission system in Maharashtra. According to the company's BSE filing on Monday, the engineering, procurement and construction (EPC) component is valued at ₹1,265 crore, excluding goods and services tax (GST). The project involves the establishment of a 400 kV GIS Solapur/Paranda switching station in Dharashiv district and will be implemented on a build-own-operate-transfer (BOOT) basis under the tariff-based competitive bidding (TBCB) route. As per Business Standard, the project involves transmission of electricity through tariff based competitive bidding for establishment of 400 KV GIS Solapur/Paranda Switching Station (Dist. Dharashiv).
Under the project terms, Dilip Buildcon will acquire 100 per cent equity in the project special purpose vehicle (SPV) and act as the transmission service provider. As reported by the company, its responsibilities include development, ownership, operation and maintenance of the intra-state transmission system under a transmission service agreement. The scope of work covers development, financing, design, engineering, procurement, construction, testing, commissioning, operation and maintenance of the transmission assets. Construction and commissioning are to be completed within 24 months from the effective date, as specified in the request for proposal, with the transmission system thereafter to be operated for 35 years from the commercial operation date. According to Business Standard, the project will be executed on Build, Own, Operate and Transfer (BOOT) basis under Tariff Based Competitive Bidding (TBCB) route.
According to the company's filing, RECPDCL is acting as the bid process coordinator on behalf of the Maharashtra State Transmission Utility. Dilip Buildcon stated that the project had been awarded by a domestic entity and would be implemented under the TBCB model. The company emphasized that neither its promoter nor promoter group companies had any interest in the entity awarding the contract, with the transaction not falling under related-party transactions. The order has been confirmed as a domestic undertaking with no involvement of international entities.
Following the announcement, Dilip Buildcon shares jumped to the day's highs on Monday, September 21, gaining as much as 1.5% to ₹431.25 before paring most of the advance to trade at ₹426.2. The stock has been down 10% so far this year, but the project win provided a significant boost to investor sentiment. The company has ensured compliance with regulatory requirements, with its trading window for insiders, designated persons and other covered entities remaining closed until 48 hours after the information is made generally available to the public, in accordance with applicable insider trading regulations.
