DBL-HCC JV wins Rs. 4,167 crore Bhadbhut Barrage project

Hindustan Construction Company Ltd. (HCC), in a joint venture with Dilip Buildcon Limited (DBL), has been awarded a Rs. 4,167.7 crore contract by the Narmada Water Resources, Water Supply and Kalpsar Department (NWRWS&KD), for design and construction of the Bhadbhut Barrage in Gujarat. HCC share in the JV is 49% (i.e. Rs.2,042 crore).

This is an engineering, procurement, and construction (EPC) contract for construction of Bhadbhut barrage, flood protection embankments and associated works across River Narmada near Bhadbhut village in Bharuch District of Gujarat. The project is to be completed in 48 months.

Mr. Arjun Dhawan, Group Chief Executive Officer, HCC said, "This is our second order win in JV with Dilip Buildcon. We are proud to work together on this crucial project for Gujarat that will impact lives by providing water for irrigation, drinking and industrial purposes."

Devendra Jain, Chief Executive Officer of Dilip Buildcon said, "This is an important milestone for us as we embarked on an important project of massive scale in joint venture with HCC. With technical prowess of both partners, we are confident of delivering the project in time. The recent order wins widen the scale of operations and presence in India and adds to order backlog."

Bhadbhut barrage consists of 1.7 km long causeway-cum-weir barrage of 600 million cubic meter storage capacity. With 99 gates, the barrage is be~ng constructed 25 km upstream of Narmada's mouth before it enters the sea. The main aim of the barrage is to divert water to Kalpasar dam and prevent saltwater intrusion in Narmada river. It will also improve groundwater quality.

Shares of HINDUSTAN CONSTRUCTION CO.LTD. was last trading in BSE at Rs.5.89 as compared to the previous close of Rs. 6.07. The total number of shares traded during the day was 610216 in over 920 trades.

The stock hit an intraday high of Rs. 6.1 and intraday low of 5.86. The net turnover during the day was Rs. 3621014.

Shares of Dilip Buildcon Ltd was last trading in BSE at Rs.281 as compared to the previous close of Rs. 280.3. The total number of shares traded during the day was 19124 in over 1443 trades.

The stock hit an intraday high of Rs. 285.5 and intraday low of 277.4. The net turnover during the day was Rs. 5382931.

Source : Equity Bulls

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