IRCON-Finolex joint venture bags MSETCL's ₹168 crore power transmission contract

On Friday, October 24, state-owned engineering and construction company IRCON International Ltd. announced that Maharashtra State Electricity Transmission Company Ltd. (MSETCL) had given its joint venture with Finolex J-Power Systems Ltd. a Letter of Award (LOA) for a turnkey works contract worth ₹168.40 crore (excluding GST). The project entails building an overhead and subterranean 220kV double circuit (D/C) transmission line under the Nagpur Zone from the 400/220kV Koradi-II Substation to the Mankapur Substation. IRCON owns 51% of the joint venture, with Finolex J-Power Systems Limited holding the remaining 49%. With the exception of the monsoon season, the project must be completed in 18 months.