Techno Electric bags concession to build transmission network

The Rs 200 crore project is being developed through Patran Transmission Company Ltd

Techno Electric & Engineering Company Ltd today said it has bagged the concession for Rs 200 crore project from PFC Consulting to build transmission network in Punjab.

 

The concession -- right to use land or other property for a specified purpose, granted by a government or a controlling body -- awarded for a period of 35 years is on Build, Own, Operate and Maintain model, TEECL said in a statement.

 

TEECL emerged as the successful bidder selected through tariff based competitive bidding guidelines for transmission services issued by the Power Ministry, the company added.

 

"The project is being developed through Patran Transmission Company Ltd, a SPV 100% acquired by Techno Electric and PFC Consulting Ltd.

 

"The Rs 200 crore project will be completed within 30 months from the date of award," it said.

 

TEECL Managing Director P P Gupta said: "After the successful commissioning of the Jhajjar transmission project in Haryana, we are glad to work on yet another project, this time with a 100% SPV under Techno Electric."