Patel Engineering JV declared L1 for Rs. 1090.45 crores contract

Maharashtra Krishna Valley Development Corporation, Pune has declared, a Mumbai based infrastructure company, Patel Engineering Limited ("Company" or "PEL") along with its JV partner, as L1 for a Rs. 1,090.45 crore contract for the works involving Construction of Pipe Line Distribution Network for Nira Deoghar Right Bank Main Canal Km 87 to Km 135 and its Distributaries, Minors offtaking between Km 65 to Km 135.

The project is to be completed in a period of 36 months.

The said project is located in the state of Maharashtra, Village - Kalaj, Taluka - Phaltan, District - Satara and the project is to be executed in a Joint Venture, of which PEL's share is 20%.

The scope of works includes construction of Pipe Distribution Network involving excavation & refilling for pipe trenches, structures providing, supplying, jointing, lowering, laying of pipes, various types of valves, chambers and outlets, testing Pipeline with all valves, outlets, etc. with an Operations, Repairs and Maintenance period for 5 years after completion of works.

Shares of Patel Engineering Limited was last trading in BSE at Rs. 42.91 as compared to the previous close of Rs. 44.52. The total number of shares traded during the day was 883366 in over 4121 trades.

The stock hit an intraday high of Rs. 45.18 and intraday low of 42.61. The net turnover during the day was Rs. 38117431.00.

Source : Equity Bulls

Keywords

PatelEngineering INE244B01030 JV OrderWin L1