Megha Engineering & Infrastructure has emerged as the lowest bidder for a Rs 12,800 crore nuclear project contract, marking its entry into the nuclear energy sector.
New Delhi, Jun 26 (PTI) Engineering major Megha Engineering & Infrastructure Ltd (MEIL) on Wednesday said that it has emerged as the lowest bidder for a contract related to a nuclear project worth Rs 12,800 crore.
It is the highest value tender ever rolled out by the Nuclear Power Corporation of India (NPCIL), MEIL said in a statement.
The project involves the construction of two 700 MW electrical reactors at Kaiga in Karnataka and represents a significant milestone in India's journey towards clean and reliable nuclear energy, it said.
The tendering process began in May 2023, with the technical bid opening in October 2023. The bidding also saw participation from BHEL and L&T.
MEIL emerged as the lowest bidder, demonstrating its exceptional technical capabilities and cost-efficiency by submitting the lowest bid of Rs.12,799.92 crores, the statement said.
"This contract represents the most significant project for MEIL and our strategic entry into the nuclear energy sector," said Ch. Subbaiah, Director, MEIL.
MEIL said its "commitment to excellence and innovation has been recognised through this landmark achievement" and the company is "excited to contribute to India's self-reliance in clean energy solutions".
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