Patel Engineering Ltd along with JV Partner bags Rihand Micro Irrigation Project

Patel Engineering Limited, a civil construction Company specialized in the hydropower and irrigation sector, today announced that, the Company along with the JV Partners have received letter of award for Rihand Micro Irrigation Project from Department of Water Resources, Madhya Pradesh, which was declared as L1 earlier.

The Company being 80% partner in the JV, our share in the project is Rs. 5,120.47 million.

About the Project

Description : Construction of a Pressure irrigation system to supply water through the Rising / Gravity mains by pressurized pipeline system for micro irrigation under Rihand Micro Irrigation Project, State of Madhya Pradesh.

Value of Contract: Rs. 6,400.59 million
Time Period : 36 months
Location : Singrauli District - Madhya Pradesh (237 Km from Varanasi Airport. 359 Km from Ranchi)
Type of Contract: EPC Turnkey Basis

Shares of Patel Engineering Limited was last trading in BSE at Rs. 14.45 as compared to the previous close of Rs. 14.78. The total number of shares traded during the day was 341726 in over 1210 trades.

The stock hit an intraday high of Rs. 15.00 and intraday low of 14.31. The net turnover during the day was Rs. 4990949.00.

Source : Equity Bulls

Keywords

PatelEngineering INE244B01030 JVPartners RihandMicroIrrigationProject OrderWin