Patel Engineering Ltd receives LoA for 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 Partner has received Letter of Acceptance for Tumkur Branch Canal (Package V) Micro Irrigation Project from Visvesvaraya Jala Nigama Limited (VJNL), which was declared as L1 earlier.

The Company being 51% partner in the JV and its share in the Project is Rs. 281.07 crore.

The Micro Irrigation System project comprises of "Survey, Design, Supply, Installation, Testing and Commissioning comprising gravity bulk feeders, construction of a Sump cum Pump house, Supply & Installation of Pumping Machineries, Terminal Bay, Electrical Substation, Electric Power Line, besides other appurtenant works such as construction of a Pipe Distribution Network and Drip Irrigation System including SCADA and Automation to cover an area of 15,090.21 Ha.

The full value of Contract is Rs. 551.11 crore and has to be completed within 24 months.

Shares of Patel Engineering Limited was last trading in BSE at Rs. 14.86 as compared to the previous close of Rs. 14.64. The total number of shares traded during the day was 243312 in over 618 trades.

The stock hit an intraday high of Rs. 15.00 and intraday low of 14.60. The net turnover during the day was Rs. 3604129.00.

Source : Equity Bulls

Keywords

PatelEngineering INE244B01030 OrderWin JV LoA TumkurBranchCanal Package5 MicroIrrigationProject