Bajel Projects Secures 700 Crore Order for Transmission Lines
Filing Summary
Bajel Projects Ltd has announced the acquisition of an ultra-mega order valued at over 700 crore from Maharashtra State Electricity Transmission Co. Ltd. (MSETCL). The contract involves the establishment of a 400/220 kV AIS Substation at Saswad, Pune, along with associated transmission lines. The project is set to be completed within 23 months from the award notification. This order does not involve any related party transactions, and no interest from the promoter group is reported. The project is a significant addition to Bajel’s portfolio in the power transmission sector.
Bajel Projects Ltd has been awarded an ultra-mega order exceeding 700 crore by the Maharashtra State Electricity Transmission Co. Ltd. (MSETCL) for the construction of a 400/220 kV AIS Substation at Saswad, Pune, along with its associated transmission lines. The order was disclosed under Regulation 30 of the SEBI Listing Regulations. The project is classified as an ultra-mega order, which includes GST as per the company’s policy.
The financial terms of the order specify that it falls into the category of ultra-mega orders, which are valued at 400 crore and above. The order is inclusive of GST, and no related party transactions are involved. The promoter or promoter group has no interest in the entity awarding the contract. The contract is a domestic order and is part of Bajel Projects’ ordinary course of business.
The scope of work includes the establishment of a 400/220 kV Air Insulated Switchgear (AIS) substation at Saswad, Pune. This encompasses the design, supply, erection, testing, and commissioning of the substation along with all associated transmission lines. The project also involves civil, supply, and ETC (Erection, Testing & Commissioning) components. The substation will be equipped with a 2×500 MVA, 400/220 kV AIS and a 1×125 MVAr Bus Reactor at the 400 kV level. Additionally, the project includes bay additions at three other substations and the construction of multiple new 400 kV and 220 kV transmission lines.
The project is significant for Maharashtra’s power infrastructure, enhancing the power evacuation capacity for the Pune region. The Saswad substation will serve as a critical node in the state’s high-voltage transmission network. The strategic location in Pune district is expected to improve grid reliability across the state.
The timeline for the project completion is set at 23 months from the date of issuance of the Notification of Award. The order is placed on behalf of MSETCL’s special purpose vehicle, SASWAD TRANSMISSION LIMITED. The project is a domestic contract, emphasizing Bajel Projects’ focus on expanding its presence in the Indian power transmission sector.
Maharashtra State Electricity Transmission Co. Ltd. (MSETCL) is a key player in the power transmission sector in India, focusing on the development and maintenance of transmission infrastructure. The company plays a crucial role in ensuring the reliability and efficiency of the power grid in Maharashtra.
Bajel Projects Ltd is a prominent entity in the power infrastructure sector, with a strong focus on power transmission and distribution. Formerly part of Bajaj Electricals Limited, Bajel Projects leverages its expertise in project management and operations excellence to deliver high-value projects. The company is committed to expanding its portfolio in high-complexity projects and strengthening its partnerships with state and national utilities.