BHEL-ABB lowest bidder for transmission project

Consortium of Bharat Heavy Electricals Ltd (BHEL.BO) and ABB's (ABBN.VX) Indian unit submitted the lowest bid for a 60 billion rupee ($1.31 billion) power transmission project to be awarded by Power Grid Corp (PGRD.BO).

"They have quoted about 7 billion rupees less than the estimated cost of 6,000 crores (60 billion rupees)," the highly placed source told on Monday.

The project to build high-voltage substations is part of 120 billion rupee transmission line project that would bring power from northeast India and Bhutan to mainland India that is set to be the largest transmission project in the country, the source added.

BHEL-ABB is expected to build HVDC sub-stations packages for the entire transmission line commencing from Biswanath Chariali in the northeastern state of Assam to Agra in north India, the source added.