Archive · 13 Aug 2026
Ashoka Buildcon Wins REC Power Project with ₹126.54 Crore Annual Charges
An Indian company called Ashoka Buildcon has been chosen to build a very big electrical substation.
A substation is like a special stop on the journey of electricity, where power is made ready to travel to homes.
The project will be built in a place called Sakoli, in the Bhandara district of Maharashtra.
The company was picked after a fair contest, called tariff-based competitive bidding, where companies compete to offer the best price.
Once the substation is built, Ashoka Buildcon will be paid about 126.54 crore rupees every year.
This payment will continue for 35 years, which is a very long time.
The company has 24 months to finish the construction work.
It also has to give a bank guarantee of 16.70 crore rupees to show it will keep its promises.
This new substation will help make sure electricity can reach people in the Sakoli and Bhandara region.
Ashoka Buildcon Limited received a Letter of Intent from REC Power Development and Consultancy Limited for a power transmission project in Maharashtra.
The project involves a 400/220/132 kV air-insulated substation at Sakoli in Bhandara district, awarded through tariff-based competitive bidding.
Ashoka Buildcon will receive annual transmission charges of about Rs 126.54 crore for 35 years after construction is completed.
The company must complete construction within 24 months, then operate and maintain the transmission asset for 35 years.
Ashoka Buildcon must submit a performance bank guarantee of Rs 16.70 crore within 10 days; the contract involves no related-party transactions.
- Who
- Ashoka Buildcon Limited and REC Power Development and Consultancy Limited
- What
- Award of a contract to build and operate a 400/220/132 kV air-insulated substation at Sakoli, with annual transmission charges of about Rs 126.54 crore for 35 years
- When
- Announced in a stock exchange filing on August 13
- Where
- Sakoli in Bhandara district, Maharashtra, India
- Why
- To support the power transmission network around Sakoli and the wider Bhandara region
- Awarding body
- REC Power Development and Consultancy Limited
- Recipient
- Ashoka Buildcon Limited
- Annual transmission charges
- Rs 126.54 crore (Rs 1,265.37 million) for 35 years
- Location
- Sakoli, Bhandara district, Maharashtra
- Substation
- 400/220/132 kV air-insulated substation
- Construction timeline
- Within 24 months
- Performance bank guarantee
- Rs 16.70 crore within 10 days of Letter of Intent
- Award method
- Tariff-based competitive bidding