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Sterlite Grid has emerged as the lowest bidder for a Rs 1,500-crore transmission project in Odisha by quoting a lowest annual tariff of Rs 139.79 crore.
"For Common Transmission System for Phase-II Generation Projects in Odisha and Immediate Evacuation System for OPGC Project in Odisha, Sterlite Grid has emerged as the lowest bidder followed by Essel and Adani," a source said.
Sterlite Grid is a Vedanta group firm. The source further said: "Sterlite Grid quoted the lowest annual tariff of Rs 139.79 crore for this project, while Essel and Adani quotations were Rs 155.7 crore and Rs 165.92 crore in the financial bids opened today."
An arm of Power Finance Corp, PFC Consulting Ltd is conducting the auction of the project. Apart from these three companies, Power Grid, Kalpataru Power Transmission Ltd (KPTL) and a consortium of Gayatri Projects Ltd and Engineering and Infrastructure Ltd had qualified for submitting financial bids for the project. However, later these firms did not submitted financial bids.
The Odisha project consists of 350 km of 765 kV double circuit line and 50 km of 400 kV of double circuit line. The government plans to auction transmission projects worth Rs 1 lakh crore through tariff-based competitive bidding route. Under the system, the developer quoting the lowest tariff would be awarded the project.
After the Odisha project, the largest project to be awarded through tariff-based competitive bidding is Warangal Project for which PFC Consulting is managing the auction.
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