Dilip Buildcon Limited has secured a letter of intent (LoI) from REC Power Development and Consultancy Limited (RECPDCL), acting as bid process coordinator for the project involving establishment of a 400 kV substation at Mekhali in Belagavi district along with associated transmission lines.
The project will be developed under the tariff-based competitive bidding route on a build, own, operate and transfer basis, with a concession period of 35 years from the commercial operation date. Construction and commissioning are to be completed within 24 months from the effective date. The engineering, procurement and construction value for Dilip Buildcon is about Rs 18.5 billion.