Odisha Road Construction: Dilip Buildcon Selected as Lowest Bidder

Dilip Buildcon Emerges as Lowest Bidder for ₹160.20 Crore Road Project in Odisha​

New Delhi, March 14: Dilip Buildcon Limited has been declared the lowest bidder for a road construction project valued at ₹160.20 crore, excluding GST, according to a company announcement released on March 14.

Project Details​

The project involves the construction of a diversion road between 4/700 km and 11/500 km on the Duduka–Gopalpur–Toparia Road, which is planned as a six lane corridor with a service road. The stretch is located in Sundargarh district of Odisha.

The tender for the project was issued by Odisha Bridge & Construction Corporation Limited. The work will be carried out under the Engineering, Procurement and Construction (EPC) model.

Dilip Buildcon stated that the project is scheduled to be completed within 18 months from the commencement date.

Stock Performance​

Shares of Dilip Buildcon ended 3.75 percent lower on Friday, March 13. The company’s stock has declined by 77 percent so far this year.

Recent Development​

Earlier in the week, Dilip Buildcon also announced that it had received a Letter of Intent from REC Power Development and Consultancy Limited. The LOI relates to the development of a 400 kV substation at Mekhali along with associated transmission lines in Belagavi district of Karnataka.

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