Patel Engineering declared lowest bidder for a Hydropower project of Rs. 718 crore from NEEPCO

NEEPCO has declared a Mumbai based infrastructure company, Patel Engineering Limited ("Company" or "PEL"), as L1 for a Rs. 718 crore (including tax) contract for the 240 MW HEO Hydro Electric Project located in Arunachal Pradesh. The project, expected to generate 1,000 million units (MU) of energy annually, aims to improve power supply in the state and contribute to the balancing of the national grid.

The project is to be completed in a period of 44 months.

The said project is located in the Shi Yomi district of Arunachal Pradesh.

The Scope of Works include construction of Civil and associated infrastructure works, testing & commissioning of Hydro-mechanical Plant & Machinery leading to successful operation and performance of all the Generating Units of the 240 MW HEO Hydro Electric Project.

Shares of Patel Engineering Limited was last trading in BSE at Rs. 45.36 as compared to the previous close of Rs. 44.35. The total number of shares traded during the day was 933633 in over 4300 trades.

The stock hit an intraday high of Rs. 48.22 and intraday low of 44.30. The net turnover during the day was Rs. 42812816.00.

Source : Equity Bulls

Keywords

PatelEngineering INE244B01030 L1 NEEPCO