Dilip Buildcon has been declared the L-1 bidder by REC Power Development and Consultancy (RECPDCL) for developing and operating an intra-state electricity transmission system at Yavatmal in Maharashtra. The project involves establishing a 400 kV air-insulated switchgear substation at Babhulgaon in Yavatmal district.

The company was selected as the successful bidder under the tariff-based competitive bidding route. It will acquire 100 per cent equity in the project special purpose vehicle and act as the transmission service provider for the development, ownership, operation and maintenance of the transmission system.

The project will be implemented on a Build, Own, Operate and Transfer basis. Its scope covers financing, design, engineering, procurement, construction, testing, commissioning, operation and maintenance of the transmission assets. RECPDCL acted as the bid process coordinator on behalf of Maharashtra State Transmission Utility.

Construction and commissioning are to be completed within 24 months from the effective date, in accordance with the request for proposal. Following the construction period, the transmission project is to be operated for 35 years from its commercial operation date under the transmission service agreement.

The company’s disclosure placed the engineering, procurement and construction consideration at Rs. 11.51 bn, excluding goods and services tax. The project is a domestic award and does not involve a related-party transaction, while the promoter group has no interest in the awarding entity. The company also said its trading window for insiders and other covered persons would remain closed until 48 hours after the information became generally available to the public.