H.G. Infra Engineering has been declared a qualified bidder by REC Power Development and Consultancy Limited for a significant project in Uttar Pradesh. The project involves the construction of 220/132/33 kV AIS substations at Ranipur (Mau) and Chunar (Mirzapur) along with their associated lines.
The project, awarded through a tariff-based competitive bidding process, will be executed under the Build, Own, Operate and Transfer (BOOT) model. The contract is set for a duration of 35 years, with the execution of the project expected to be completed within 18 months.
The transmission charges for the project are set at ₹450.11 million per year. The project is domestically awarded, and there is no involvement of international entities. Furthermore, there are no related party transactions involved in this contract, and the promoter group does not have any interest in the awarding entity.
REC Power Development and Consultancy Limited, a wholly owned subsidiary of REC Limited, is the entity awarding this contract. The project aims to establish an intra-state transmission system in Uttar Pradesh, enhancing the region’s power infrastructure.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).