logo
Patel Engineering awarded ₹711 cr hydro project in Arunachal by NEEPCO

Patel Engineering awarded ₹711 cr hydro project in Arunachal by NEEPCO

Time of India21-05-2025
New Delhi:
Patel Engineering
Ltd (PEL) has received a Letter of Acceptance (LoA) from North Eastern Electric Power Corporation Ltd (
NEEPCO
) for the construction of the 240 MW HEO hydroelectric project in Arunachal Pradesh at a contract value of ₹711.29 crore.
The project, located in Shi Yomi district of Arunachal Pradesh, will be executed under the Engineering, Procurement and Construction (EPC) mode with a completion timeline of 44 months.
PEL was previously declared as the L1 (lowest) bidder for the project.
The contract scope includes execution of civil and associated infrastructure works, supply, installation, testing and commissioning of hydro-mechanical plant and machinery, and ensuring successful operation and performance of all generating units of the HEO hydroelectric project.
'We are proud to have been awarded the HEO Hydropower project from NEEPCO. This order further cements our position as a trusted partner for building critical infrastructure for India's power sector and strengthens our position in the North-East. Arunachal Pradesh with its vast and largely untapped hydropower potential, is emerging as a key region in India's renewable energy landscape. As we embark on the execution of the HEO hydropower project, we bring with us decades of experience, a proven track record in complex hydropower works, and a deep sense of responsibility towards environmental stewardship and community engagement,' said Kavita Shirvaikar, Managing Director, Patel Engineering Ltd.
Established in 1949, Patel Engineering Ltd operates in hydropower, tunnelling and irrigation segments and has executed more than 85 dams, 40 hydroelectric projects, and over 300 km of tunnelling in India and abroad.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Multibagger stock to be in focus on Monday; here's why
Multibagger stock to be in focus on Monday; here's why

Mint

time16 hours ago

  • Mint

Multibagger stock to be in focus on Monday; here's why

Multibagger stock: GHV Infra Projects share price will remain in focus in Monday's trading session after the board approved Stock split in the ratio of 2:1 and company received Letter of Award for ₹ 2,645 crore. GHV Infra Projects stock was up 2 per cent to close at ₹ 1,549.20 apiece on Friday. The stock has given significant returns in a month by surging over 51 per cent despite volatility in the Indian stock market. Shares of GHV Infra Projects have proven to be a multibagger stock as it has soared nearly 1,603.73 per cent in terms of year-to-date (YTD) and over 7,732.15 per cent in last one year. The board of directors in the meeting, held on July 24, had approved sub-division/split in the ratio of 2:1 (1 equity share of face value ₹ 10 each will be subdivided into 2 equity shares of ₹ 5 each). ' The stock split is aimed at enhancing the liquidity of the Company's shares in the market and making them more accessible to retail investors. Further, the Board has also approved the issuance of bonus shares to existing shareholders of the company in the ratio of 3:2 i.e. Three fully paid-up equity shares for every 2 existing shares held,' the company said in an exchange filing dated August 2. The company has also received letter of award (LOA) from Rana Exim FZ-LLC for EPC developments of Industrial & Commercial Buildings at Erisha Smart Manufacturing Hub, Ras Al Khaimah Economic Zone (RAKEZ), UAE. The order received is valued at ₹ 2,645 crore or AED 1,12,42,74,621 and estimated to be completed within 24 months excluding 90 days of initial setup and mobilization period. 'We Build Value' by taking up selected valuable Projects like Development of smart manufacturing providing Green EV production with zero discharge facilities over a period of time with sustainable continuous growth. With this prestigious order, the total order book of the company has risen to over Rs. 6,500 crore and shall continue to strive few more selective project options in near term," said Jahid Vijapura, Group Chairman of GHV Group. The company further informed the exchanges that the board has also considered and approved Increase in the authorized share capital of the Company from ₹ 16 crore to ₹ 66 crore. ' The members of the Company, at their Extra-Ordinary General Meeting held on June 28, 2025, approved the issuance of Convertible Warrants to Promoters/Promoter Group and Non Promoters, on a preferential basis by way of private placement,' the company added. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

L&T terminated contracts of suburban rail project illegally, says K-RIDE
L&T terminated contracts of suburban rail project illegally, says K-RIDE

Business Standard

timea day ago

  • Business Standard

L&T terminated contracts of suburban rail project illegally, says K-RIDE

Press Trust of India Bengaluru The termination of two contracts for Corridor-2 and Corridor-4 of the Bengaluru Suburban Rail Project (BSRP) by Indian multinational conglomerate Larsen & Toubro is a clear violation of agreement conditions, said officials of K-RIDE, a joint venture between the government of Karnataka and the Ministry of Railways, on Saturday. L&T had terminated the contract on July 31, added K-RIDE. "L&T has made unreasonable demands of revising contract price within the contract period and converting EPC contract into an itemised Bill of Quantities (BOQ) contract, even though contract condition does not permit the same," stated a press release issued by K-RIDE on Saturday. According to the release, L&T had entered into two agreements to perform the work assigned to them in the Corridor-2 (Chikkabanavara to Benniganahalli) and Corridor-4 (Heelalige to Rajankunte) of the suburban railway project, added the release. Originally, the scheduled completion time for Corridor-2 (C2) was 27 months, but was extended up to September 30, 2026. The agreement entered upon for Corridor-4 (C4) is valid till October 2026. K-RIDE officials said all reasonable demands of L&T were addressed by them as per the provisions of the contract. "The contract permits extension of the period for delay in availability of the land by K-RIDE. But L&T has opted to terminate the contract unilaterally and illegally," said the release. The claims, said K-RIDE, had been referred to the Amicable Settlement Committee, as per the provision of the contract. The work front available to L&T is about 84 per cent of the total corridor length of C2 and 17 km in C4, said the release. "However, the progress achieved by L&T so far in C2 and C4 are not commensurate with the available work front, which exposes L&T's failures in carrying out the work, which is citing non-availability of work front as reason," added the press release. According to K-RIDE, work was delayed because L&T failed to mobilise adequate resources and there was a delay in finalising designs. It also said that the project managers of L&T were frequently changed, affecting the progress of work. There was no immediate reaction from L&T. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.) First Published: Aug 02 2025 | 10:48 PM IST

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store