Steamhouse India has secured a significant contract worth ₹311 crore (inclusive of GST) for the Engineering, Procurement and Construction (EPC), commissioning and comprehensive Operation & Maintenance (O&M) of the Common Steam Plant and Co-generation Power Plant at the Bulk Drug Park, Una, Himachal Pradesh. According to the company's regulatory filing, this project represents a strategic expansion for the company into Himachal Pradesh's industrial infrastructure development. The order was awarded by Himachal Pradesh Bulk Drug Park Infrastructure Limited and encompasses a 300 TPH steam plant, an indicative co-generation power capacity of 30 MW, and an associated steam distribution network.
The project will add 300 TPH of steam capacity to Steamhouse India's operating platform and provide a long-term 25-year O&M opportunity following the EPC and commissioning phase. As reported in the regulatory filing, this strategic expansion aligns with the company's community steam generation and distribution model, marking its entry into Himachal Pradesh's industrial infrastructure development sector. The EPC completion timeframe is set for 24 months from commencement, followed by the 25-year O&M period upon commissioning, subject to applicable contractual conditions. The entire project cost will be funded by Himachal Pradesh Bulk Drug Park Infrastructure Limited, limiting the company's working-capital requirement and supporting its asset-light business model.
The project cost will be funded by Himachal Pradesh Bulk Drug Park Infrastructure Limited under a structured commercial framework based on actual operating costs, permissible markup, and recovery of the operating expenditure gap funding (OGF). The financial layout features an initial subsidized period, followed by a 20-year revenue-sharing period from April 2032 to March 2052. This domestic order marks a strategic geographic expansion for Steamhouse India, extending its community steam generation and distribution platform beyond Gujarat. The state implementing agency will procure the power generated through the project's turbines and retain rights over its further distribution or sale.
With the 300 TPH Una project and another 360 TPH of capacity under construction, Steamhouse India's potential generation and distribution platform could reach about 1,005 TPH, subject to completion and commissioning. The company currently has about 345 TPH of steam generation and distribution capacity under its own generation and distribution model. The Una project will help expand the company's community boiler model beyond Gujarat and strengthen its presence in industrial clusters across India. The project also provides an opportunity to evaluate biomass and other suitable waste-derived fuels, subject to technical feasibility, environmental regulations and approvals.
Chairman and Managing Director Vishal S Budhia stated that the Una Steam Project marks an important milestone in Steamhouse's growth journey. He emphasized that the combination of a 300 TPH Steam Plant, indicative 30 MW power generation, a ₹311 crore EPC opportunity and a 25-year O&M mandate creates a long-term platform for the company. Budhia highlighted that the asset-light structure and structured commercial framework provide visibility into the long-term economics of the project, while the opportunity to evaluate sustainable fuels and additional common utilities further expands the potential of the platform.
