India, Nov. 25 -- Ceigall India Ltd, one of the country's fastest-growing EPC companies, has received a Letter of Intent (LOI) from REC Power Development and Consultancy Ltd (RECPDCL) for the establishment of a 400/220 kV Gas Insulated Substation (GIS) at Velgaon in Maharashtra, under the Tariff-Based Competitive Bidding (TBCB) framework.
The project, seen as a significant step in strengthening Ceigall's presence in the high-voltage power transmission sector, will be executed over two years, followed by a 35-year operation and maintenance period. The company said the project carries an annual annuity of Rs 58.5 crore for 35 years, against an estimated EPC cost of around Rs 450 crore.
This long-term revenue visibility adds a stable asset b...