Shares of Patel Engineering Ltd soared 5% on 25 April after the corporate introduced that they’ve emerged because the lowest bidder (L1) for initiatives valued at Rs 2,036.89 crore.
NEEPCO has designated a Mumbai-based infrastructure enterprise as L1 for a Rs 718 crore (together with tax) contract for the 240 megawatt (MW) HEO Hydroelectric Challenge in Arunachal Pradesh.
The undertaking, which is estimated to generate 1,000 million models (MU) of electrical energy per 12 months, intends to spice up the state’s energy provide whereas additionally contributing to nationwide grid balancing.
The undertaking is positioned in Arunachal Pradesh’s Shi Yomi district and is predicted to be accomplished inside 44 months.
The scope of labor for the 240 MW HEO Hydropower undertaking consists of civil and associated infrastructure development, hydro-mechanical tools testing and commissioning, and making certain that every one producing models function and carry out correctly.
As well as, the corporate was designated the bottom bidder for CIDCO’s Rs 1,318.89 crore contract for the “development of Kondhane Dam and its allied works” utilizing Curler Compacted Concrete Know-how. The undertaking is positioned within the state of Maharashtra, Village – Kondhane, Taluka – Karjat, District – Raigad, and might be accomplished in 42 months.
The scope of labor includes civil works for the dam’s development, which measures 1209m in size and 83m in peak, in addition to hydro-mechanical and electrical work, comparable to three radial gates, electrical and handbook gate management, and different electrification work.
At 11:44 am, the shares of Patel Engineering have been buying and selling 0.09% greater at Rs 44.47 on NSE.
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