Ceigall India Limited has informed the Exchange about Intimation regarding L1 Bidder for Establishment of 400/220 kV Velgaon Substation (GIS).
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Awaiting price reaction for this filing.
Ceigall India has emerged as the L1 (lowest) bidder for the establishment of a 400/220 kV Velgaon Substation (GIS) under a tariff-based competitive bidding process. The project was invited by REC Power Development and Consultancy Limited, a government-owned entity. The quoted annual tariff is Rs. 585 million (~Rs. 58.5 crores), with a completion period of 24 months and an Operation & Maintenance period of 35 years. The company is awaiting the formal Letter of Intent or Award, and further details will be shared once received.
Positive for the company as it adds a new power transmission project to its order book, with a long 35-year O&M window providing steady recurring revenue. The order is not yet finalised as it still requires the formal award, so the actual revenue recognition depends on the LOI being issued.