Global Infrastructure SherpaDilip Buildcon receives LOI for ₹1,850 crore 400 kV transmission project in Karnataka
Dilip Buildcon Limited received a Letter of Intent for a significant power transmission project in Karnataka, valued at ₹1,850 crore. The project includes the construction of a 400 kV substation and associated transmission lines. Construction is anticipated to be completed within 24 months, followed by a 35-year operational period. This award strengthens Dilip Buildcon's presence in India's power infrastructure sector.
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The construction and commissioning work is expected to be completed within 24 months from the effective date of the agreement. The transmission infrastructure will be developed under the Build, Own, Operate, and Transfer (BOOT) model through a Tariff-Based Competitive Bidding (TBCB) process. The project is a domestic contract and does not involve any related party transactions. Neither the promoters nor the promoter group companies have any interest in the awarding authority.
"Dilip Buildcon Limited has announced that it has received a Letter of Intent (LOI) for a major power transmission project in Karnataka."
"The project has been awarded by REC Power Development and Consultancy Limited on behalf of the Government of Karnataka."
"The project has been awarded by REC Power Development and Consultancy Limited on behalf of the Government of Karnataka."
"As part of the agreement, Dilip Buildcon will acquire 100 percent equity shares in a Project Special Purpose Vehicle (SPV), which will act as the Transmission Service Provider for the project."
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