Ceigall India to Boost Regional Power through Rs 450-Crore Substation Project

Ceigall India has secured a contract from REC to establish a gas-insulated substation in Velgaon, Maharashtra. The project, worth Rs 450 crore, aims to enhance the regional power network and will be completed in two years, followed by a maintenance term of 35 years.

Ceigall India, a prominent EPC player, announced receiving a letter of intent from REC Power Development and Consultancy Limited (RECPDCL) to construct a gas-insulated substation in Velgaon, Maharashtra. The project, valued at Rs 450 crore, has been procured under the Tariff Based Competitive Bidding mechanism.

According to the announcement, the Velgaon project will be completed over a period of two years. Following its establishment, the facility will undergo a 35-year operation and maintenance term, with an annual annuity of Rs 58.5 crore compared to its EPC cost.

Ramneek Sehgal, Chairman and Managing Director of Ceigall India, stated that the upcoming substation will significantly enhance the regional power network, expressing enthusiasm to execute the project with precision and excellence. Ceigall India specializes in various infrastructure developments including elevated roads, tunnels, and highways.

(With inputs from agencies.)