Bajel Projects Formalises Egypt Transmission Pact; Shares Jump Over 4%

Mumbai July, 22: Bajel Projects Ltd. has moved a step closer to executing one of its biggest overseas transmission projects after formally signing the project agreement with the Egyptian Electricity Transmission Company (EETC) for a 500 kV overhead transmission line in Egypt.

The announcement follows the company’s April disclosure that it had secured the order in the Middle East and North Africa (MENA) region. Wednesday’s filing confirms that the parties have now completed the agreement signing, allowing the project to move into the execution stage.

The contract covers Lot 1 and Lot 5 of a 500 kV transmission line project and was signed during a ceremony in Cairo attended by senior officials from Bajel, EETC and representatives of the Indian diplomatic mission in Egypt.

The company said the project is valued at more than ₹400 crore, placing it among its larger international transmission assignments.

Strengthens International Order Book

For Bajel, the announcement is less about winning a new order and more about converting an earlier award into an executable contract.

The project forms part of Egypt’s programme to strengthen its high-voltage transmission network as the country expands electricity infrastructure to support industrial growth and rising power demand.

The agreement also deepens Bajel’s presence in the MENA region, where the company has been steadily expanding. In recent years, it has entered Saudi Arabia through a joint venture and established a subsidiary in Abu Dhabi, reflecting a broader strategy of building an international transmission EPC business alongside its domestic operations.

Managing Director and CEO Rajesh Ganesh said the agreement demonstrates the confidence placed in the company’s engineering capabilities and its ability to execute complex high-voltage transmission projects outside India.

Stock Markers Snapshot

Bajel Projects share price surged in late trade after the announcement. The stock was trading at ₹184.66, up 4.29%, as of 2:52 PM IST on July 22.

The sharp move came after the company confirmed that the order disclosed earlier this year had progressed to the contract execution stage, providing investors with greater visibility on the overseas project.

Company Background

Bajel Projects is a power transmission EPC company engaged in the construction of transmission lines, substations and power infrastructure. Formerly part of Bajaj Electricals, the company now operates independently and has been increasing its focus on overseas markets, particularly across the Middle East and Africa, while continuing to execute utility-scale projects in India.

Conclusion

The agreement does not represent a fresh order, but it is an important operational milestone. Formal execution clears the way for work to begin on the Egypt project and reinforces Bajel’s growing international footprint. With overseas opportunities becoming an increasingly important part of its order pipeline, successful delivery of this project could further strengthen the company’s credentials in global transmission EPC markets.

Source:

https://www.nseindia.com/get-quote/equity/BAJEL/Bajel-Projects-Limited