Patel Engineering Limited (PEL) announced today that it has been declared the lowest bidder (L1) for a major irrigation project in Maharashtra worth ₹1,090.45 crore. The Mumbai-based infrastructure company will execute the project in a joint venture, with PEL holding a 20 per cent share worth ₹218.09 crore.
The shares of Patel Engineering Limited (PEL) were trading at ₹43.19, down by ₹1.30 or 2.92 per cent on the NSE today at 11.20 am.
The contract, awarded by Maharashtra Krishna Valley Development Corporation, involves constructing a pipeline distribution network for the Nira Deoghar Right Bank Main Canal from kilometers 87 to 135, along with its distributaries and minors. The project is located in Kalaj village, Phaltan taluka, Satara district.
According to the company, the scope of work includes excavation, pipe trenching, supplying and laying pipes, installing various valves, chambers and outlets, as well as testing the pipeline system. The contract also includes a five-year operations, repairs, and maintenance period after completion.
The project has a 36-month completion timeline. This latest win adds to PEL’s established portfolio in the infrastructure sector, where the 75-year-old company has previously completed over 85 dams, 40 hydroelectric projects, and more than 300 km of tunneling works.
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