Patel Engineering JV declared L1 for irrigation project

Maharashtra Krishna Valley Development Corporation, Pune has declared a Mumbai based infrastructure company, Patel Engineering Limited ("Company" or "PEL") along with its JV partners, as Lowest Bidder (L1) for a Rs. 133.25 crore contract for the works involving construction of head works, pump houses, switch yards, rising mains, delivery chambers, and installation of pumping machinery, together with allied civil, mechanical, and electrical works. It also encompasses the development of a closed pipe distribution system under the Tasgaon Lift Irrigation Scheme under the Guruvarya Late Laxmanraoji Inamdar Lift Irrigation Scheme.

The project is to be completed in a period of 48 months.

The project is located in the villages of Tasgaon, Varne, Karandwadi, Devkarwadi, Degaon, and Nigadi, within Satara Taluka, Satara District. and the project is to be executed in a Joint Venture, of which PEL's share is 51%.

The scope of works includes civil construction for several key components. A closed pipe distribution network is proposed to serve an irrigable command area (ICA) of 2,277 hectares across six villages in Satara Taluka. The project also involves the construction of head works, pump houses, switch yards, rising mains, delivery chambers, and installation of pumping machinery, along with allied civil, mechanical, and electrical works. In addition, it covers excavation of deep trenches in earth soil for laying rising mains as part of the distribution system. The works further include providing, supplying, lowering, laying, and jointing of mild steel (M.S.) pipes, prestressed cement concrete pipes (P.C.C.P.), and high‑density polyethylene (HDPE) pipes.

Shares of Patel Engineering Limited was last trading in BSE at Rs. 27.93 as compared to the previous close of Rs. 27.23. The total number of shares traded during the day was 600276 in over 1618 trades.

The stock hit an intraday high of Rs. 28.55 and intraday low of 26.69. The net turnover during the day was Rs. 16546182.00.

Source : Equity Bulls

Keywords

PatelEngineering INE244B01030 JV L1 IrrigationProject