REC Transmission Projects to announce lowest financial bids for 2 projects tomorrow

REC Transmission Projects (RECTPL) will tomorrow announce the names of the lowest bidders on the basis of financial bids for Vemagiri II and Alipurduar power transmission projects worth around Rs 8,100 crore.

Wholly-owned subsidiary of state-run Rural Electrification Corporation RECTPL had earlier postponed the opening of financial bids for the two projects on October 16.

PowerGrid, Sterlite, Essel and Adani had submitted the bids for these two projects. Besides, Kalpataru Power Transmission has bid for the Alipurduar project.

"The financial bids for Vemagiri II and Alipurduar power transmission projects will be opened tomorrow," a source said.

The Vemagiri II project will strengthen the transmission system beyond Vemagiri and will be called Vemagiri II Transmission Ltd. It will traverse through Andhra Pradesh and Karnataka.

Similarly, the Alipurduar project will strengthen transmission system in India for transfer of power from new hydroelectric projects in Bhutan. It will traverse through Bihar and West Bengal.

The government has planned to put transmission projects worth Rs 1 lakh crore on the block for auction during the current fiscal. Various government panels and authorities have been backing the move to rope in private developers.

Power sector regulator CERC has stated that tariffs discovered through competitive bidding are 30-45 per cent lower than the cost-plus route.