Dilip Buildcon Limited has announced the receipt of a Letter of Intent (LOI) from REC Power Development and Consultancy Limited (RECPDCL) for establishing a 400kV substation in Mekhali, Karnataka. This project is set to enhance the state's transmission infrastructure significantly.
The LOI was awarded by RECPDCL, acting on behalf of the Government of Karnataka. The project involves the development, financing, design, engineering, procurement, construction, testing, commissioning, operation, and maintenance of transmission assets.
Dilip Buildcon will acquire 100% equity shares of the Project SPV and act as the Transmission Service Provider (TSP) under the Tariff Based Competitive Bidding (TBCB) route.
The project, valued at approximately ₹1,850 crore (excluding GST), is to be executed on a Build-Own-Operate-Transfer (BOOT) basis. The concession period is set for 35 years from the Commercial Operation Date (COD), with construction and commissioning expected to be completed within 24 months from the Effective Date.
This project is a significant step in enhancing Karnataka's intra-state transmission system. It is expected to improve the reliability and efficiency of power distribution in the region, supporting the state's growing energy demands.
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In compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Dilip Buildcon has disclosed the details of this project.
As of March 11, 2026, at 12:24 PM, Dilip Buildcon share price on NSE was trading at ₹464.80 up by 1.31% from the previous closing price.
Dilip Buildcon's receipt of the LOI for the 400kV substation project in Karnataka marks a crucial development in the company's portfolio. This project, valued at ₹1,850 crore, is set to bolster Karnataka's power infrastructure, reflecting the company's strategic expansion in the energy sector.
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Published on: Mar 11, 2026, 1:58 PM IST
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