Dilip Buildcon Shares Gain 3% on Securing Rs 1,850 Crore Order 

Shares of Dilip Buildcon Ltd gained 3% on 11 March after the company announced securing a Letter of Intent from REC Power Development and Consultancy Limited (RECPDCL) to create a 400 kV substation at Mekhali, along with accompanying transmission lines in Karnataka’s Belagavi district.

In an exchange filing, the business stated that the Rs 1,850 crore project includes development, financing, design, engineering, procurement, building, testing, commissioning, operation, and maintenance of gearbox assets.

The project will be carried out through Tariff-Based Competitive Bidding (TBCB), with Dilip Buildcon acquiring 100% equity in the project’s special purpose vehicle (SPV) and acting as the Transmission Service Provider.

The project will be implemented on a Build-Own-Operate-Transfer (BOOT) basis, with a 35-year concession period beginning with commercial operation.

The corporation stated that construction and commissioning are scheduled to be completed within 24 months after the effective date. The project’s projected EPC value is at Rs 1,850 crore (without GST).

On behalf of the Karnataka government, RECPDCL coordinated the bid process for the project. Dilip Buildcon also stated that the contract has no related party transactions and that its promoters have no stake in the awarding organisation.

At 12:20 pm, the shares of Dilip Buildcon were trading 1.17% higher at Rs 464.20 on NSE. 

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