BHEL bags contract worth ₹9,500 Crore from NTPC for 1600 MW thermal project

6 Mar 2024 , 11:35 AM

State-owned Bharat Heavy Electricals Ltd (BHEL) said on Tuesday that it has received an order from power major NTPC to build a 1,600 MW Singrauli thermal power plant (Stage-II).

The order is worth more over ₹9,500 Crore, minus GST (goods and services tax), BHEL stated in a regulatory filing.

As per the statement, BHEL has secured a contract from NTPC to establish the Singrauli Super Thermal Power Project, Stage-III (2×800 MW) in Sonebhadra District, Uttar Pradesh. The engineering company plans to complete Unit 1 within 50 months and Unit 2 within 54 months.

The engineering company aims to complete the first unit within a span of 50 months and the second unit within 54 months. The deal covers the delivery of equipment, erection, and commissioning, as well as civil works, according to the statement. The BSE sought clarity on Monday about news that BHEL had won this deal as the lone bidder.

The company then clarified to the BSE that it submitted a price offer on December 21, 2023, and is the sole bidder for the aforementioned NTPC tender, which is a standard process of business.

Submission of a bid does not result in the automatic lodging of an order, and so is not needed to be informed under Regulation 30 of the SEBI Listing Regulations, 2015, it stated.

At around 9.55 AM, BHEL was trading 3.20% lower at ₹257.30, against the previous close of ₹265.80 on NSE. The counter touched an intraday high and low of ₹272, and ₹256.35, respectively.

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