News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 17 years ago
Home  » Business » REL to get Power Grid contract for transmission lines

REL to get Power Grid contract for transmission lines

Source: PTI
November 21, 2006 15:44 IST
Get Rediff News in your Inbox:
Reliance Energy Limited has outbid seven other companies, including Tata Power and GMR, to emerge as the top contender for building India's first fully independent private power transmission lines at a cost of about Rs 1,800-2,000 crore (Rs 18 to 20 billion).

The Anil Ambani group firm was the lowest bidder for the two tenders invited by state-run Power Grid Corporation of India Ltd for constructing the grid lines linked with Western Region Strengthening Scheme in Gujarat and Maharashtra.

Tata Power, Larsen and Toubro, GMR group, China Light and Power-Gammon India, Lanco-Deepak Cables, and two Spain-based consortia, including Inabensa-Abengoa, were the other companies in race for the two projects.

"Reliance Energy Transmission Ltd has emerged as the lowest bidder in each of the Packages B and C, for which separate price bids were invited (by PGCIL)," a statement by Central Electricity Regulatory Commission said.

The two projects are part of PGCIL's Rs 5,000 crore (Rs 50 billion)
western grid scheme, which ran into dispute last year when REL approached CERC for a licence to set up the lines on its own.

While Package B is for building sub-stations and grid lines in southern Maharashtra at a cost of Rs 1,100-1,200 crore (Rs 11 to Rs 12 billion), the Package C entails setting up grid lines in Gujarat at an investment of about Rs 500-600 crore (Rs 5 to Rs 6 billion).

When executed, these would be India's first transmission lines built fully by private players.

PGCIL has so far formed joint ventures to build some grid lines. In fact, the only joint venture in transmission that is operational at present is between PGCIL and Tata Power to evacuate power from Tala hydroelectric project in Bhutan.

Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!