Synopsis: Bajel Projects Limited has formally signed an agreement with the Egyptian Electricity Transmission Company (EETC) for two sections of a 500 kV overhead transmission line project in Egypt. The ultra-mega project, valued at over Rs. 400 crore, strengthens the company’s international order book, expands its footprint across the MENA region and reinforces its position as a global EPC player in high-voltage transmission infrastructure.
Shares of Bajel Projects Limited are likely to remain in focus after the company announced that it has formally entered into an agreement with the Egyptian Electricity Transmission Company (EETC) in Cairo for the execution of two contiguous sections Lot 1 and Lot 5 of a 500 kV Overhead Transmission Line (OHTL) project. The signing follows the company’s earlier announcement in April regarding the award of the transmission line project in the MENA region and marks the official commencement of the contract.
Bajel Projects Limited has a total market capitalization of approximately Rs. 2,095 crore. The company’s shares were trading at Rs. 181.24 apiece on the stock exchange, down by 1.80 percent. The stock has gained 1.59 percent over the last five trading sessions and declined 11.27 percent over the last month. The stock touched a 52-week high of Rs. 255.90 and a 52-week low of Rs. 135.10.
According to the company’s exchange filing, the agreement was signed in Cairo, Egypt, by Mr. Rajesh Ganesh, Managing Director & CEO of Bajel Projects, in the presence of India’s Ambassador to Egypt, H.E. Mr. Suresh K. Reddy, senior officials of EETC and other dignitaries from both countries. The project forms part of Egypt’s national grid reinforcement programme and is aimed at strengthening the country’s high-voltage transmission network to support growing industrialisation and electricity demand.
The combined project falls under the company’s ultra-mega order category, carrying a value of over Rs. 400 crore. The transmission corridor will play a key role in improving grid reliability, facilitating efficient power evacuation and supporting Egypt’s expanding renewable energy and industrial infrastructure. Large transmission projects such as these typically provide multi-year revenue visibility and strengthen EPC companies’ execution credentials in international markets.
The agreement is strategically important as it reinforces Bajel Projects’ growing presence across the Middle East and North Africa (MENA) region. International EPC contracts not only diversify the company’s revenue base but also reduce dependence on the domestic market while improving access to large-scale infrastructure opportunities. Successful execution of this project could strengthen Bajel’s credentials with overseas utilities and increase its ability to win additional transmission projects across emerging markets.
The project also complements the company’s broader international expansion strategy. Bajel has already established a 50:50 joint venture with the Al Sharif Group in Saudi Arabia and recently incorporated Bajel T & D Projects and Contracting in Abu Dhabi, UAE, expanding its operational presence across key Gulf markets. These initiatives position the company to participate in the region’s substantial investments in power transmission infrastructure, grid modernisation and renewable energy integration.
Demand for high-voltage transmission infrastructure continues to grow globally as countries invest in expanding electricity networks, integrating renewable energy and strengthening cross-border power connectivity. EPC companies with expertise in designing, constructing and commissioning high-voltage transmission lines are expected to benefit from rising investments in energy infrastructure across Asia, Africa and the Middle East.
For investors, the formalisation of this contract represents an important milestone as it converts an earlier order announcement into an executed agreement, reducing project uncertainty and reinforcing execution visibility. The over Rs. 400 crore international project strengthens Bajel Projects’ overseas order book, supports long-term revenue growth and demonstrates the company’s increasing ability to compete for large, technically complex transmission infrastructure projects outside India.
Incorporated in 2022 following its demerger from Bajaj Electricals Limited, Bajel Projects Limited is engaged in the Engineering, Procurement and Construction (EPC) business across power transmission and power distribution. The company provides end-to-end solutions covering design, engineering, procurement, manufacturing, installation, testing and commissioning of transmission and distribution infrastructure for domestic and international utility customers.
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