Steamhouse India Ltd has secured a ₹311 crore engineering, procurement and construction (EPC) mandate for a 300 tonnes per hour (TPH) common steam and co-generation power plant at the Bulk Drug Park in Una, Himachal Pradesh, the company said.
The mandate also includes commissioning and comprehensive operation and maintenance (O&M) of the facility for 25 years, giving Steamhouse an EPC opportunity, alongside a long-term recurring revenue stream.
The project, being developed for Himachal Pradesh Bulk Drug Park Infrastructure Ltd, will comprise a 300 TPH steam plant, an associated steam distribution network and an indicative 30 MW co-generation facility.
The EPC contract value of ₹311 crore is inclusive of GST.
In a statement, Steamhouse said the entire project cost will be funded by Himachal Pradesh Bulk Drug Park Infrastructure Ltd, limiting the company’s working-capital requirement and supporting its asset-light business model.
The EPC phase is expected to take 24 months, subject to the definitive agreement, requisite approvals, site readiness and other project conditions. This will be followed by the 25-year O&M period.
The project provides for a structured commercial framework based on actual operating costs, permissible markup and recovery of the operating expenditure gap funding (OGF), with charges and revenue sharing linked to a standardised internal rate of return applicable to the pharmaceutical and API sector, as approved by the competent authority.
Under the arrangement, an initial subsidised period will be followed by a 20-year revenue-sharing period from April 2032 to March 2052.
The company said the project also provides an opportunity to evaluate biomass and other suitable waste-derived fuels, subject to technical feasibility, environmental regulations and approvals.
Steamhouse currently has about 345 TPH of steam generation and distribution capacity under its own generation and distribution model. With the 300 TPH Una project and another 360 TPH of capacity under construction, its potential generation and distribution platform could reach about 1,005 TPH, subject to completion and commissioning.
The company said the Una project will help expand its community boiler model beyond Gujarat and strengthen its presence in 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,” Chairman and Managing Director Vishal S Budhia said.
“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,” he said.
“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,” Budhia added.
The state implementing agency will procure the power generated through the project’s turbines and retain rights over its further distribution or sale, according to the company.
Bulk Drug Parks are intended to provide common infrastructure and utilities for pharmaceutical manufacturing clusters, helping reduce individual manufacturers’ infrastructure costs and improve the availability of critical industrial services.
Steamhouse’s model involves centralised steam generation and distribution to industrial customers rather than individual units developing standalone steam-generation facilities.
Published on September 26, 2026
