Article

Dilip Buildcon Ltd has received a letter of intent from REC Power Development and Consultancy Ltd for a ₹1,850 crore power transmission project in Karnataka. The project includes establishing a 400 kV substation at Mekhali in Belagavi district and associated transmission lines.

Construction is expected to be completed within 24 months. Under the agreement, Dilip Buildcon will acquire 100% equity shares of the project's special purpose vehicle and act as the transmission service provider.

The project follows a BOOT model with a concession period of 35 years from the commercial operation date. The scope encompasses development, financing, design, procurement, construction, testing, and maintenance of the transmission assets.