REC to award contract worth Rs.1300 crore

Posted By: Religare
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Power Grid Corporation of India, a Navratna state-owned electric utility company, has planned to submit their bid for the contract worth Rs 1,300 crore along with other domestic and foreign players. Power Grid wheels about 51% of the total power generated in India on its transmission network.

From this year, the government has made it mandatory for the state owned players to compete with other players for any power project contract.

State run Rural Electrification Corp has invited technical bids from domestic and international developers to award Rs 1,300 crore contract for laying transmission system in Andhra Pradesh. The contract involves laying two high capacity transmission lines of 250 km length each for connecting various independent power stations in Vemagiri to Hyderabad. Rural Electrification Corp would conduct bidding for the build, own, operate and maintain contract.

The government has identified four more such high capacity transmission systems to be awarded to private companies. Power Finance Corp and Rural Electrification Corp would conduct bidding for the projects.

Twenty-eight companies, including domestic firms like Reliance Power, Sterlite Energy , Larsen & Toubro , GMR Energy , Lanco Infratech and JSW Energy along with five foreign companies including China's State Grid Corporation have bid for the project.

Read more about: power, bse, nse, rec, pgcil
Story first published: Thursday, June 16, 2011, 11:45 [IST]
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