A joint venture between HCC (Hindustan Construction Company Ltd) and Hoisto Structurals & Equipment Pvt. Ltd. Bhopal (HSEPL) has won ₹672.99 crore EPC contract for constructing Parwan Gravity Dam by the Water Resources Department, Government of Rajasthan.
According to the EPC contract, the JV will construct a concrete gravity dam and 8.475 km long tunnel for irrigation and water supply purpose as well as 21-km long access road to the project site. The project is to be completed in 48 months.
HCC’s share in the joint venture is 90 per cent which amounts to ₹605.70 crore, the company said in the statement.
Drinking water project Remaining 10 per cent are with HSEPL, a JV of Hindustan Petroleum Corporation and SP Ports Pvt Ltd (SPPPL), a subsidiary of Shapoorji Pallonji Infrastructure Capital Company (SP Infra), where both hold 50 per cent equity.
The project awarded to the JV is located about 375 km from Jaipur and is part of Parwan Irrigation cum Drinking Water Supply Project on Parwan river.
“This project will not only provide irrigation benefits to an area of 1,31,400 hectares covering 313 villages but will also cater to drinking water demand of 820 villages of Jhalawar, Baran & Kota districts,” said Arun Karambelkar, President & CEO, E&C, HCC.
Irrigation projects HCC has previously participated in large irrigation projects in India, including Godavari Lift irrigation Phase I, II and III, the Vaitarna Dam in Maharashtra and Tirupur water supply project in Tamil Nadu.
Net profit down Earlier in May, HCC reported standalone net profit of ₹20.9 crore for the quarter ended March 31, down 4 per cent from ₹21.81 crore in the corresponding quarter last year, although the company’s turnover for Q4FY-17 went up to ₹1,358.3 crore from ₹1,196.0 crore in the same quarter of the previous year.
HCC secured seven new orders worth ₹5,375 crore in the FY-17, the company said in the BSE filing, scaling up the total order book to ₹20,390 crore.
HSEPL stands for Hoisto Structurals & Equipment Pvt. Ltd. Bhopal. and not HPCL Shapoorji Energy Pvt Ltd as was mentioned in the story. The story has been modified with the correct name.