Ceigall India Secures LOI for Velgaon Substation Project
Filing Summary
Ceigall India Ltd has received a Letter of Intent (LOI) from REC Power Development and Consultancy Limited for the establishment of a 400/220 kV Velgaon Substation (GIS) through a Tariff Based Competitive Bidding (TBCB) process. The project involves a contract performance guarantee of Rs. 9.35 Crore and is valued at Rs. 585 Million annually over 35 years. The completion period is set at 24 months, with an operation and maintenance period of 35 years. This domestic contract does not involve related party transactions.
Ceigall India Ltd has announced the receipt of a Letter of Intent (LOI) from REC Power Development and Consultancy Limited for the establishment of a 400/220 kV Velgaon Substation (GIS). The project will be executed through a Tariff Based Competitive Bidding (TBCB) process. The LOI, referenced as RECPDCL/TBCB/Velgaon/2025-26/2898, was issued on 23rd November 2025.
The project requires a Contract Performance Guarantee of Rs. 9.35 Crore, which must be submitted within 10 days from the date of the LOI. The contract is valued at Rs. 585 Million annually and spans a period of 35 years, covering both the establishment and operational phases. The completion period for the substation is set at 24 months from the effective date, followed by an operation and maintenance period of 35 years.
This contract has been awarded by a domestic entity and does not involve any related party transactions. The company has confirmed that neither the promoter nor the promoter group has any interest in the awarding entity. The project is structured to ensure compliance with the SEBI Circular No. SEBI/HO/CFDIPoD2/ CIR/P/0155 dated November 11, 2024.
REC Power Development and Consultancy Limited is engaged in providing consultancy services in the power sector, focusing on project management and execution. The company plays a significant role in facilitating power infrastructure development through competitive bidding processes.
Ceigall India Ltd is focused on infrastructure development, particularly in the power sector. The company is committed to expanding its project portfolio through strategic contracts and competitive bidding processes, aiming to enhance its operational capabilities and market presence.