New Launch25 Nov 2025, 10:18 am
Ceigall Secures LOI from REC Power for Velgaon Substation, Commits to EPC Cost of Rs 450 Crore
AI Summary
Ceigall India Ltd has received a Letter of Intent (LOI) from REC Power Development and Consultancy Limited (RECPDCL) for the establishment of a 400/220 kV Gas Insulated Substation (GIS) in Velgaon, Maharashtra, under the Tariff-Based Competitive Bidding (TBCB) mechanism. The project, worth approximately Rs 450 crore, comes with a 35-year operation and maintenance term and an annuity of Rs 58.5 crore per year. This development marks Ceigall's entry into power transmission and distribution, positioning itself as a sustainable infrastructure company.
Key Highlights
- Ceigall secures LOI from REC Power Development for Velgaon substation worth Rs 450 crore.
- The project includes a 400/220 kV Gas Insulated Substation (GIS) in Velgaon, Maharashtra.
- The 35-year operation and maintenance term will generate an annuity of Rs 58.5 crore per year.
- This development marks Ceigall's entry into power transmission and distribution.
- Ceigall is positioning itself as a sustainable infrastructure company with this move.