Bajel Projects Secures ₹586.28 Crore PowerGrid Contract for Beawar-Mandsaur Line

In a stock exchange filing, Bajel Projects Limited recently announced that the company has secured a significant contract from PowerGrid Corporation of India Limited (PowerGrid).

This contract has been awarded for the supply of goods and services related to the Beawar-Mandsaur Transmission Line Project in Rajasthan. The specific entity on whose behalf PowerGrid awarded the contract is M/s Beawar-Mandsaur Transmission Limited, referred to as the SPV or Project SPV Company.

The scope of work for Bajel Projects Limited under this contract involves the Transmission Line Package TL01 for the 765 kV D/C Beawar-Mandsaur PS Transmission Line – Part I. This project is associated with the “Transmission System for evacuation of power from Rajasthan REZ Ph-IV (Part-2: 5.5GW) (Jaisalmer/Barmer Complex) Part-D” and is being executed through the Tariff Based Competitive Bidding (TBCB) route.

The total value of this contract is ₹586.28 crore (excluding taxes). The project has a defined completion period of 23 months from the date of issuance of the notification of award.

Bajel Projects Limited has clarified that none of its promoters, promoter group, or group companies have any direct or indirect interest in the entity that awarded the contract. Additionally, this contract does not fall within the purview of related party transactions.

This award represents a significant milestone for Bajel Projects Limited, highlighting the company’s capability and expertise in handling large-scale transmission projects. It also reinforces the company’s strategic role in contributing to India’s power infrastructure development, particularly in the renewable energy sector, by facilitating the evacuation of power from the Rajasthan Renewable Energy Zone.

About Bajel Projects Ltd

Bajel Projects Ltd (BPL) specialises in Engineering, Procurement, and Construction (EPC) services. It was established as a distinct legal entity from Bajaj Electricals Ltd. BPL’s EPC segment focuses on power transmission and power distribution, offering comprehensive solutions that include in-house design, testing, procurement, manufacturing, installation, and commissioning of projects.

On July 24, 2024, the share price of Bajel Projects Ltd opened at ₹293.95, touching the day’s high at ₹294.00, as of 9:38 AM on the NSE.

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