Sector majors shy away from bidding for transmission projects
Three companies pulled out of auction for the Rs 400-crore Maheshwaram power transmission project. This is the second time in a week that transmission companies did not bid for projects despite qualifying.
The qualified bidders for the Maheshwaram project were state-owned Power Grid Corporation, Essel Infra, Sterlite Grid, Kalpataru Transmission, CLP India and a consortium of Tata Power and Tata Realty. Of these, only Sterlite, Power Grid and Kalpataru bid.
Larsen & Toubro on Tuesday pulled out of auctions for the Rs 823 crore Chhattisgarh A, Rs 1,976 crore Chhattisgarh B and Rs 863 crore Sipat transmission projects. European major Isolux also did not bid for two of the three projects. Jindal Power, too, had qualified for two projects but did not bid for either.
The winners of the Chhatisgarh A and B projects are likely to be named by Power Finance Corporation next Tuesday.