Sterlite Tech (STL) on Friday, November 8, said it has emerged as the lowest bidder for a BSNL project worth ₹1,625 crore.
As per the project, STL will develop the middle mile network of Bharat Net on a design build operate and maintain model - Package 13 (J&K).
The contract involves three years of construction and 10 years of maintenance at 5.5% per amount of capex for the first five years and 6.5% per annum capes for the next five years.
This is the third order BSNL has given in the last three days. On Thursday, November 7, wires and cables manufacturer, Polycab Ltd, said it emerged as the lowest bidder from the BSNL, for the development, creation, upgradation and operation & maintenance of the Middle mile network of Bharat Net on a Design, Build, Operate and Maintain (DBOM) model for Package 7 in Bihar. The order was valued at ₹1,549 crore and it has to be executed within three years.
On Wednesday, the company had emerged as the lowest bidder for the creation, upgradation, operation and maintenance of the middle mile network of Bharat Net in Karnataka, Goa and Puducherry. The size of the order was ₹4,099 crore, with the terms of the order being the same.
STIL shares were trading 4.68% higher at ₹127.88 apiece at 10.15 am on Friday, November 8. However, the stock has fallen 13.91% this year, so far.
Source Link: Sterlite Tech emerges as lowest bidder for BSNL project worth ₹1,625 crore - CNBC TV18