Megha Engineering emerges lowest bidder for Rs 12,800 cr nuclear power project

Megha Engineering & Infrastructures Ltd on Wednesday said it has emerged as the lowest bidder for a Rs 12,800 crore engineering, procurement and construction (EPC) contract from the state-owned Nuclear Power Corporation of India.

The company pipped stateowned Bharat Heavy Electricals Ltd and Larsen & Toubro Ltd to grab the project by submitting the lowest bid of Rs 12,799.92 crore.

Megha Engineering & Infrastructures, the second-biggest buyer of electoral bonds and facing corruption allegations, is a $5- billion infrastructure company with a footprint across hydrocarbons, electric buses, defence, power, transport and manufacturing.

The EPC project involves construction of two 700 MW electrical reactors at Kaiga in Karnataka in what is touted to be the highest value tender floated by the Nuclear Power Corporation. The tender introduced the quality-cum-cost-based selection methodology, the Hyderabad-based company said in a statement. The tendering process began in May last year and the technical bid opened in October.

“This contract represents the most significant project for the company and our strategic entry into the nuclear energy sector," said Ch Subbaiah, director, Megha Engineering & Infrastructures.