April 24, 2012
REC Transmission Projects Co Ltd has handed over Vemagiri Transmission System project specific special purpose vehicle to Power Grid Corporation of India Ltd (PGCIL) that quoted lowest bid to bag the Rs 1,300 crore contract.
PGCIL quoted a levelised tariff of Rs. 119.7 crore per annum for the Vemagiri Transmission System that will transmit power from upcoming private power plants in southern region.
The contract involves laying two high capacity transmission lines of 250 km length each for connecting various independent power stations in Vemagiri to Hyderabad. REC Transmission Projects Company has so far awarded four transmission projects with an aggregate value of Rs 5,800 crore through tariff based competitive bidding route.