Patel Engineering secures hydro project worth Rs 360 crore

Patel Engineering Ltd on November 07, 2006 has announced that it has bagged orders for construction of Loharinag Pala Hydro Electric Power Project (4 x 150 MW) Penstock and Power House worth Rs 360 crore from National Thermal Power Corporation Ltd (NTPC). The project, which is situated on river Bhagirathi in Uttarkashi District of Uttaranchal about 195 km from Rishikesh on NH 108, will be completed in the next 45 months.

"Hydro power has always been the prime focus of the Company. The Company will capitalize on its vast experience and expertise in this sector", said Sonal Patel, Whole Time Director, of the Company.

Loharinag Pala Hydro Electric Project (4 x 150 MW) is a run-of-the-river scheme to generate 1939 MU on 90% dependability. The project comprises of surge shaft of 13.5 dia, inclined pressure shaft, underground power house, underground transformer hall, tail race tunnel and switchyard.

The Company recently acquired a controlling stake in Michigan Engineers Pvt Ltd (MEPL), a Mumbai based urban infrastructure Company, for an undisclosed sum. Also, the Company was awarded the Loharinag Palo Hydro Electric Power Project (4 x 150 MW) Head Race Tunnel Package worth Rs 318 crore.

Source : Equity Bulls

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