Patel Engineering Ltd’s shares were up by 4.99 per cent after the company secured the Lot-4 civil works contract for the Dibang Multipurpose Project in a joint venture (JV) with NHPC Ltd.
Patel Engineering is a 50 per cent partner in the project valued at Rs 1,818.56 crore. It encompasses construction for the Dibang Multipurpose Project, a 2880 MW venture comprising headrace tunnels, intake structures, powerhouse facilities, and more.
The contract value is Rs 3,637.12 crore, and the project completion duration is put at 86 months. Situated in Arunachal Pradesh, the project is executed based on an EPC Item Rate Basis.
The shares were up by 4.99 per cent at Rs 57.01 at 09.37 am on the BSE.