Megha Engineering & Infrastructures Ltd revealed that it has secured the EPC contract worth ₹12,800 crore from the state-owned Nuclear Power Corporation of India by submitting the lowest bid on Wednesday. The company's bid of ₹12,799.92 crore outperformed the bids from Bharat Heavy Electricals Ltd and Larsen & Toubro Ltd.
Megha Engineering & Infrastructures is a $5 billion infrastructure company active in various sectors such as hydrocarbons, electric buses, defense, power, transport, and manufacturing.
The EPC project involves building two 700 MW electricity reactors in Kaiga, Karnataka, under what is said to be the most valuable tender ever released by the Nuclear Power Corporation. The tender utilized a quality-cum-cost-based selection methodology. The tendering process began in May last year, and the technical bid was opened in October.