Joint venture of state-owned RVNL & Salasar lowest bidder for Rs 174 cr transmission project in MP

New Delhi: A joint venture of state-owned RVNL and Salasar Techno Engineering has emerged as the lowest bidder for a transmission project worth Rs 174 crore in Madhya Pradesh.

In a BSE filing, Rail Vikas Nigam Ltd (RVNL) said it holds 51 per cent stake in the JV while Salasar Techno Engineering Limited (STEL) has the remaining 49 per cent stake.

"RVNL-Salasar JV emerges as the lowest bidder (L1) from Madhya Pradesh Power Transmission Company Ltd for construction of 132 KV and 220 KV transmission lines and associated feeder bays on total turnkey basis in eastern MP," RVNL said in the filing.

The project is to be executed in 18 months period, RVNL said adding that the size of the order is Rs 173,99,04,310.

RVNL, under Ministry of Railways, ​is involved in project development, financing and implementation of projects related to rail infrastructure.

STEL is a steel structural manufacturer and EPC infrastructure company, providing services across telecom, energy and railways.