HG Infra Engineering Ltd has been declared a qualified bidder by REC Power Development and Consultancy Ltd (RECPDCL) for a power transmission project in Uttar Pradesh. According to the exchange filing, the project involves the construction of 220/132/33 kV air-insulated substations at Ranipur in Mau district and Chunar in Mirzapur district, along with associated transmission lines. The project will be awarded through a tariff-based competitive bidding process and will be executed within 18 months from the date of award.
The project carries annual transmission charges of about ₹45.01 crore, which will serve as the revenue stream for the 35-year concession period. As reported by CNBC TV18, the project entails establishing an intra-state transmission system in Uttar Pradesh under the build, own, operate and transfer (BOOT) model. The selected transmission service provider will operate the asset for a period of 35 years.
Shares of HG Infra Engineering Ltd ended marginally lower on Tuesday, May 26, by 0.66% at ₹598.90 on the NSE. According to CNBC TV18, the company clarified that neither its promoters nor promoter group entities have any interest in the awarding entity, and the contract does not fall under related-party transactions.
