Hyderabad-based MEIL wins Rs 12,800 crore nuclear project in Karnataka

MEIL was recently investigated by the Central Bureau of Investigation (CBI) in April over corruption charges.
MEIL in Hyderabad
MEIL in Hyderabad
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Hyderabad-based company Megha Engineering & Infrastructure Ltd (MEIL) on Wednesday, June 26, which was recently investigated by the Central Bureau Investigation (CBI), grabbed the nuclear project contract in Karnataka valued at Rs 12,800 crore. The project involves the construction of two 700 MW electrical reactors at Kaiga, Karnataka.

“(the project)... represents a significant milestone in India’s journey towards clean and reliable nuclear energy,” MEIL said in a statement, adding that the nuclear project is the highest valued tender ever rolled out by the Nuclear Power Corporation of India (NPCIL).

Technical bidding for the project started in October 2023 which also saw bidding from companies like Larsen and Turbo (L&T) and BHEL (Bharat Heavy Electricals Limited). MEIL emerged as the lowest bidder, demonstrating its exceptional technical capabilities and cost-efficiency by submitting the lowest bid of Rs.12,799.92 crores, the statement said.

MEIL’s winning bid comes over two months after the company was investigated by the CBI in April over corruption charges. MEIL was accused of bribing in order to get a Rs 315 crore project related to the works of intake well and pump house, and cross country pipeline at the integrated steel plant in Jagdalpur, Chhattisgarh. Eight officers from National Mineral Development Corporation (NMDC) Iron and Steel Plant, which is under the Ministry of Steel, were also booked in the case.

The company was among the top buyers of electoral bonds and the biggest donor of Bharatiya Janata Party (BJP). The company was among the top buyers of electoral bonds and the biggest donor of Bharatiya Janata Party (BJP). MEIL paid Rs 584 crore in electoral bonds to the Bharatiya Janata Party (BJP). In total, the Megha group, of which the MEIL is a part, contributed Rs 1,186 crores in electoral bonds to the ruling party.

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