IRCON–Finolex JV Wins ₹168.4 Crore Power Transmission Project in Maharashtra
Filing Summary
IRCON International Limited, in a joint venture with Finolex J-Power Systems Limited (51:49 share), has received a Letter of Award from Maharashtra State Electricity Transmission Company Limited (MSETCL) for a ₹168.40 crore turnkey power transmission contract. The project involves the construction of a 220 kV double circuit transmission line between Koradi-II and Mankapur substations under the Nagpur Zone. The execution period is 18 months, excluding the monsoon. The contract has been awarded by a domestic entity and does not involve any related party transactions.
IRCON International Limited announced that it has received a Letter of Award (LOA) from Maharashtra State Electricity Transmission Company Limited (MSETCL) for a turnkey power transmission project.
The project has been awarded to a Joint Venture (JV) between IRCON International Limited and Finolex J-Power Systems Limited, with shareholding in the ratio of 51:49, respectively. The total value of the contract is ₹168.40 crore (excluding GST).
The contract involves the construction of a 220 kV double circuit (D/C) transmission line from 400/220 kV Koradi-II Substation to Mankapur Substation under the Nagpur Zone. The scope of work includes both overhead (O/H) and underground (U/G) components. The project is to be executed on a turnkey basis under tender no. T-2503 (RFx No. 6000001310).
The execution period for the project is 18 months, excluding the monsoon period. The scope includes complete engineering, procurement, and construction (EPC) for the transmission line infrastructure to enhance power transmission capacity in the Nagpur Zone.
The contract has been awarded by a domestic entity and does not involve any related party transactions. IRCON has confirmed that neither the promoters nor group companies have any interest in the awarding authority.
About the Joint Venture Partners
IRCON International Limited (Lead Partner – 51%)
IRCON International Limited is a public sector enterprise under the Ministry of Railways, Government of India. The company specializes in large-scale engineering, procurement, and construction (EPC) projects across sectors such as railways, highways, bridges, buildings, power, and electrical infrastructure. IRCON undertakes turnkey projects both in India and overseas, delivering end-to-end infrastructure solutions for transport and power sectors.
Finolex J-Power Systems Limited (Partner – 49%)
Finolex J-Power Systems Limited manufactures and installs high-voltage power cables and systems for power transmission and distribution. The company provides solutions for the design, supply, installation, and maintenance of power transmission networks for public utilities and industrial customers. It has established a presence in domestic transmission infrastructure and electrical systems integration.
About Maharashtra State Electricity Transmission Company Limited (MSETCL)
MSETCL, a Government of Maharashtra enterprise, operates as the state transmission utility responsible for planning, development, and maintenance of the intrastate transmission network. It facilitates power evacuation and grid management for the state’s generation and distribution utilities.