Surat, September 28: Steamhouse India Limited has won the mandate for Engineering, Procurement and Construction (EPC), commissioning and comprehensive Operation & Maintenance (O&M) for 25 years of the Common Steam Plant and Co-generation Power Plant at the Bulk Drug Park, Una, Himachal Pradesh.
The allotment of the tender provides us with an opportunity to scale our community boiler model on a larger platform, while requiring limited working capital deployment. The entire project cost will be funded by Himachal Pradesh Bulk Drug Park Infrastructure Limited. This project will mark a significant milestone in Steamhouse’s journey, transforming the company from a Gujarat-focused player into a multi-state, pan-India community boiler solutions provider. In addition to enabling the expansion of our community boiler model, the tender also provides us with an exclusive long-term Operations & Maintenance (O&M) business opportunity, supporting sustainable and recurring revenue growth. Given the asset-light nature of the model and limited capital deployment required from Steamhouse, the project is expected to generate strong ROCE.
The project comprises a 300 TPH Steam Plant with indicative power generation capacity of 30 MW, along with the associated steam distribution network. The EPC execution period is 24 months, followed by the long-term O&M period.
The EPC contract value is ₹311 crore, inclusive of GST, providing Steamhouse with an immediate EPC execution opportunity alongside a long-term O&M business.
Expanding Steamhouse’s Generation Platform
The Una project is strategically significant in the context of Steamhouse’s expanding capacity.It currently has approximately 345 TPH of steam generation and distribution capacity under its own generation and distribution model. With 300 TPH being added through the Una project, along with approximately 360 TPH of capacity already under construction, Steamhouse is building a significantly larger generation and distribution platform.
This represents a potential capacity platform of approximately 1,005 TPH, comprising existing capacity, the Una project and under-construction capacity, subject to project completion and commissioning.
The expansion reinforces Steamhouse’s strategy of developing large-scale centralized steam generation and distribution infrastructure for industrial clusters across India.
“The Una Steam Project marks an important milestone in Steamhouse’s growth journey. The combination of a 300 TPH Steam Plant, indicative 30 MW power generation, a ₹311 crore EPC opportunity and a 25-year O&M mandate creates a long-term platform for the Company.
The asset-light structure and structured commercial framework provide visibility into the long-term economics of the project, while the opportunity to evaluate sustainable fuels and additional common utilities further expands the potential of the platform.
With 345 TPH of existing capacity, 300 TPH being added through Una and another 360 TPH under construction, Steamhouse is significantly expanding its overall generation and distribution footprint.” Mr Vishal S. Budhia, Chairman & Managing Director, Steamhouse India Limited, said.
