Patel Engineering Wins L1 Bid for ₹342.76 Crore Maharashtra Water Project

On May 7, 2024, Patel Engineering Limited informed in an exchange filing that the Office of the Executive Engineer, Government of Maharashtra, has announced the company, along with its Joint Venture Partner, as Lowest (L1) for a ₹342.76 crore contract.

The work involved in this contract is the construction of the water lifting arrangement for the first stage from the submergence of the Jigaon project, which includes mechanical, civil, and electrical components, as well as allied works. The company stated that the project is expected to be completed in a period of 24 months. The said project from the Office of the Executive Engineer is located in the state of Maharashtra.

The project will be undertaken through the company’s Joint Venture, with Patel Engineering Limited holding a 35% stake. It encompasses the construction of water lifting facilities for LIS 1-10-11-12,8, 9, 3, 4-5-6 in the first stage, starting from the submergence of the Jigaon project. This includes the development of approach channels, rising mains, pumping machinery, switchyards, and all associated civil, mechanical, and electrical works.

Earlier this year, in March 2024, Patel Engineering announced the inauguration of one of its key projects, the Sela Pass Tunnel Project in Arunachal Pradesh, inaugurated by Shri Narendra Modi.

The Sela Pass Tunnel Project was valued at ₹650 crores. As part of Project VARTAK by the Border Roads Organizations (BRO), Patel Engineering constructed the tunnel. The project comprises constructing two main tunnels, T1 (1003.34m) and T2 (1594.38m), with an escape tunnel of 1584.38m and an 8.7-kilometer road. Patel Engineering was selected for the prestigious project due to its extensive experience and stellar track record in managing complex and large-scale endeavours, solidifying its reputation as the preferred partner for globally significant projects.

About Patel Engineering

Patel Engineering Ltd is involved in the construction of bridges, dams, roads, tunnels, industrial structures, and piling works. They are also engaged in the construction of various other types of heavy civil engineering works in different areas, such as irrigation and water supply, hydro, transport and urban infrastructure.

On May 8, 2024, the share price of Patel Engineering Ltd opened at ₹55.90, touching the day’s high at ₹57.90, as of 11:50 AM on the NSE.

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