Bajel Projects Ltd on Friday said it has secured an ultra-mega engineering, procurement and construction (EPC) order worth over ₹700 crore from Maharashtra State Electricity Transmission Company Ltd (MSETCL) for setting up a 400/220 kV air-insulated switchgear (AIS) substation at Saswad in Pune district, along with associated transmission lines.
The order, the largest single contract won by the company in its power transmission business, will involve the design, supply, erection, testing and commissioning of a greenfield 2×500 MVA, 400/220 kV AIS substation at Saswad. The project will also include installation of a 1×125 MVAr bus reactor at the 400 kV level and provisions for future expansion, the company said in a regulatory filing.
The scope of work further includes bay additions at existing and proposed substations as well as the construction of multiple 400 kV and 220 kV transmission lines and line-in-line-out (LILO) configurations to integrate the Saswad facility with the wider Maharashtra transmission grid.
The project is expected to be completed within 23 months from the date of issuance of the notification of award.
The contract has been awarded by MSETCL and will be placed on behalf of its special purpose vehicle, Saswad Transmission Ltd, stated the exchange filing.
The Saswad substation is expected to play a key role in strengthening Maharashtra’s high-voltage transmission network and enhancing power evacuation capacity for the rapidly industrialising Pune region.
Commenting on the development, Rajesh Ganesh, Managing Director and CEO of Bajel Projects Ltd, said securing the order marks a milestone for the company and reinforces its engineering and execution capabilities in the high-voltage substation segment.
Shares of Bajel Projects Ltd ended lower on Friday, March 13 by 5.43% at 138.00 on the NSE.
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