Ceigall India emerged as the lowest bidder for an inter-state transmission project awarded by REC Power Development and Consultancy. The contract is valued at Rs 6,090 million (mn) and carries annual transmission charges of Rs 6,086.70 mn for 35 years. The execution period is 36 months from the scheduled commissioning date.

The work covers a common transmission system to evacuate power from Lakadia Phase-II, Jam Khambhaliya Phase-II and Jamnagar Phase-I. The generators are rated at seven point five gigawatt (GW), five point five GW and one GW, and the plan includes a 765/400 kV air-insulated substation and about 300 km of transmission lines across Gujarat and Maharashtra. The system is intended to strengthen the inter-state network and support power evacuation.

The company said the project was won through tariff-based global competitive bidding and an e-reverse auction and that neither the promoter nor related group companies have any interest in the awarding entity. Separately, Ceigall India has received a road construction order worth Rs 7,047.0 mn from the Ministry of Road Transport and Highways for a section of the Frontier Highway in Arunachal Pradesh. That project will be executed through a joint venture with Sushee Infra & Mining in which Ceigall India will hold a 74 per cent stake and covers an 82.4-km stretch on an EPC basis; the contract value excludes GST.

Shares of Ceigall India extended a four-day gaining streak, advancing about nine per cent over the period. The stock rose as much as six point five per cent intraday to Rs 345.35 and was trading about five per cent higher at Rs 340.75 as of 2.14 pm. The company said the transmission system will support regional evacuation and strengthens its business prospects, a development that investors welcomed.