On 9th September, the Gujarat Industries Power Company board of directors approved the award of the EPC contract to KEC International at the cost of Rs 244 crore.

The contract is for pooling substation 400/33 KV, 1200 MW (PSS-1, phase-1 & phase-II of 600 MW each) of solar / wind / hybrid RE of Park 2375 MW capacity at Great Rann of Kutch area, Gujarat. Shares of Gujarat Industries Power advanced 1.82 per cent to Rs 95.30, while those of KEC International gained 2.84 per cent. The stock has traded at Rs 416.90 on the Bombay Stock Exchange (BSE). Gujarat Industries Power Company is engaged in the business of electrical power generation. The total present installed capacity of GIPCL is 1184.4 MW. The company’s net profit surged 77.67 per cent to Rs 62.86 crore as sales rose by 2.26 per cent to Rs 302.68 crore in the first quarter of FY23 over in the first quarter of FY22.

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On 09th September 2022, the Board of Directors (BOD) of Gujarat Industries Power Company Ltd, at its Meeting, approved the award of the EPC Contract to M/s. KEC International Limited at the cost of Rs. 244.00 Crores (Rupees Two Hundred Forty-Four Crores) approximately for Pooling Sub-station 400/33 KV, 1200 MW (PSS-1, Phase-1 & Phase-II of 600 MW each) of Solar / Wind / Hybrid RE Park of 2375 MW capacity at Great Rann of Kutch area, Gujarat.