Consumer durable products maker Bajaj Electricals Ltd on Friday (October 13) said it has been awarded a service contract by the Power Grid Corporation of India Ltd (PGCIL), valued at ₹564.20 crore.

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The contract, announced through a letter dated October 13, 2023, signifies a key partnership in the development of transmission infrastructure in the Ananthapur and Kurnool regions of Andhra Pradesh.

The scope of work under this contract involves the establishment of a 400kV new transmission line, covering a distance of 83.12 km in Ananthapur and an extended 183-km line in Kurnool, Andhra Pradesh.

These lines are part of a broader transmission scheme designed to support solar energy zones in Ananthapur (with a capacity of 2,500 MW) and Kurnool (with a capacity of 1,000 MW).

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The completion timeline for these critical projects is set at 21 months from the issuance of their respective notices of award (NoA) or letters of acceptance (LoA).

Shares of Bajaj Electricals Ltd ended at ₹1,067.95, down by ₹1.15, or 0.11%, on the BSE.

(Edited by : Shoma Bhattacharjee)

First Published:Oct 13, 2023 7:50 PM IST