Latest news with #PatelEngineering
Business Standard
26-05-2025
- Business
- Business Standard
Patel Engineering JV receives LoA for pipeline project of Rs 958 cr
Maharashtra Krishna Valley Development Corporation, Pune has awarded a contract valued at Rs. 958.33 crore to Patel Engineering along with its JV partner, for the construction of Pipe Line Distribution Network for Nira Deoghar Right Bank Main Canal KM 87 to 135 and its Distributaries, Minor off taking between KM 65 to KM 135. The project, scheduled for completion within a period of 36 months, is located in the state of Maharashtra, in Village Kalaj, Taluka Phaltan, District Satara. It will be executed through a Joint Venture, in which the company's share is 20%. The scope of works includes construction of Pipe Distribution Network involving excavation & refilling for pipe trenches, structures providing, supplying, jointing, lowering, laying of pipes, various types of valves, chambers and outlets, testing Pipeline with all valves, outlets, etc. with an Operations, Repairs and Maintenance period for 5 years after completion of works.
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Business Standard
26-05-2025
- Business
- Business Standard
Here's why Patel Engineering share price rose 3% in trade today; details
Patel Engineering share price: Construction engineering firm Patel Engineering share price rose up to 3.15 per cent to hit an intraday high of ₹43.18 per share, on Monday, May 26, 2025. However, by 12:40 PM, Patel Engineering shares were off day's high, and were trading 1 per cent higher at ₹42.28 per share. In comparison, BSE Sensex was trading 0.59 per cent higher at 82,199.25 level. What lifted Patel Engineering's share price today? Patel Engineering share price rose after announcing that it, along with its joint venture (JV) partner, has secured a contract worth ₹958.33 crore from the Maharashtra Krishna Valley Development Corporation, Pune. The project involves the construction of a Pipeline Distribution Network for the Nira Deoghar Right Bank Main Canal, covering KM 87 to KM 135, including distributaries and minors between KM 65 and KM 135. PEL was previously declared the L1 (lowest) bidder for the project. Located in Kalaj village, Phaltan Taluka, Satara district in Maharashtra, the project is expected to be completed in 36 months. Patel Engineering holds a 20 per cent stake in the JV executing the work, the company revealed, in a statement. Under the terms of the deal, the JV's work includes excavation and refilling for pipeline trenches, supply and laying of pipes, installation of valves, chambers, outlets, and comprehensive testing. 'We are pleased to have been awarded this project by the Maharashtra Krishna Valley Development Corporation. This project represents a significant step forward in enhancing irrigation infrastructure in the region and will play a crucial role in improving agricultural productivity and water management efficiency. At Patel Engineering Ltd., we view this as more than just a construction project—it is a long-term investment in the prosperity of rural communities and the resilience of our agricultural ecosystem,' said Kavita Shirvaikar, managing director, Patel Engineering. Last week, Patel Engineering announced that North Eastern Electric Power Corporation (NEEPCO) has awarded a contract valued at ₹711.29 crore to the company for the construction of the 240 MW HEO Hydropower Project located in Arunachal Pradesh under EPC Mode. About Patel Engineering The company has built a solid reputation for successfully executing projects both in India and abroad. Over the years, PEL has completed more than 85 dams, 40 hydroelectric projects, and over 300 kilometers of tunnelling, primarily for central public sector undertakings and various state government agencies.
Business Standard
23-05-2025
- Business
- Business Standard
Patel Engineering JV bags project from Maharashtra Krishna Valley Development Corporation, Pune
Patel Engineering announced that Maharashtra Krishna Valley Development Corporation, Pune has awarded a contract valued at Rs. 958.33 crore to the company along with its JV partner, for the construction of Pipe Line Distribution Network for Nira Deoghar Right Bank Main Canal KM 87 to 135 and its Distributaries, Minor off taking between KM 65 to KM 135. PEL had earlier been declared L1 (lowest bidder) for this project. The project, scheduled for completion within a period of 36 months, is located in the state of Maharashtra, in Village Kalaj, Taluka Phaltan, District Satara. It will be executed through a Joint Venture, in which PEL's share is 20%. The scope of works includes construction of Pipe Distribution Network involving excavation & refilling for pipe trenches, structures providing, supplying, jointing, lowering, laying of pipes, various types of valves, chambers and outlets, testing Pipeline with all valves, outlets, etc. with an Operations, Repairs and Maintenance period for 5 years after completion of works.
Business Standard
23-05-2025
- Business
- Business Standard
Patel Engg bags Rs 958-cr pipeline project in Maharashtra
Patel Engineering (PEL), along with its joint venture (JV) partner, has secured a contract worth Rs 958.33 crore from the Maharashtra Krishna Valley Development Corporation (MKVDC), Pune. The project involves the construction of a pipe distribution network for the Nira Deoghar Right Bank Main Canal, from kilometer 87 to 135, including distributaries and minor canals between kilometers 65 and 135. The scope of work includes excavation and refilling of pipe trenches, construction of structures, supply, jointing, lowering, and laying of pipes, installation of various valves, chambers, and outlets. It also includes testing of the pipeline system along with a five-year Operations, Repairs, and Maintenance (O&M) period post-completion. The company was previously declared the L1 (lowest bidder) for this infrastructure project, which is scheduled for completion within 36 months. The work will be carried out in Village Kalaj, Taluka Phaltan, District Satara, Maharashtra. The project will be executed through a joint venture, in which Patel Engineering holds a 20% stake. Kavita Shirvaikar, managing director, Patel Engineering said, We are pleased to have been awarded this project by the Maharashtra Krishna Valley Development Corporation. This project represents a significant step forward in enhancing irrigation infrastructure in the region and will play a crucial role in improving agricultural productivity and water management efficiency. At Patel Engineering, we view this as more than just a construction projectit is a long-term investment in the prosperity of rural communities and the resilience of our agricultural ecosystem. Patel Engineering is a 76-year-old company, established in 1949, that has evolved into a leading construction firm specializing in the hydropower and irrigation sectors. The company is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures, and other types of heavy civil engineering works. It has executed a wide range of infrastructure projects in technology-intensive areas such as hydropower, irrigation and water supply, urban infrastructure, and transportationparticularly in tunnels and underground works for hydroelectric and transportation projectsprimarily serving as a civil contractor. The counter shed 0.48% to Rs 41.73 on the BSE.
Indian Express
22-05-2025
- Politics
- Indian Express
Former J&K governor Satya Pal Malik among 7 named in CBI chargesheet in hydel project case
The CBI filed a chargesheet against seven people, including former Jammu and Kashmir governor Satya Pal Malik, on Thursday in connection with alleged corruption in the award of a contract for a hydel project in Kishtwar district. CBI sources identified the other six accused as M S Babu, MD of Chenab Valley Power Projects Pvt Ltd; board directors M K Mittal and Arun Kumar Mishra; private secretaries Virendra Rana and Kanwar Singh Rana; and a private person, Kanwaljit Singh Duggal. The CBI registered two cases in April 2022 following a request from the Jammu & Kashmir government over the allegations of malpractices related to i) the award of a contract of the J&K Employees' Health Care Insurance Scheme to private company and the release of about Rs 60 crore in 2017-18, and ii) the award of a Rs 2,200-crore civil work contract for Kiru Hydro Electric Power Project to a private firm in 2019. 'So far Satya Pal Malik was examined as a witness in the cases,' a CBI official said. In October 2021, two years after he demitted office as governor, Satya Pal Malik claimed he was offered Rs 300 crore in bribes to clear two files, including one related to a Rashtriya Swayamsevak Sangh leader. Based on this allegation, the CBI registered two cases in the matter and conducted searches at 14 locations. The agency booked Anil Ambani's Reliance General Insurance Company and officials of Chenab Valley Power Projects Pvt, among others, in the two cases. Since 2021, Malik has consistently spoken against the Narendra Modi government. It began with claims of corruption in the Kashmir hydel project and then sensational claims of the Centre deliberately failing to fix accountability in the Pulwama terrorist attack. Following Malik's allegations, J&K Lieutenant General Manoj Sinha said these were serious and that the administration had decided to hand over the probe in the case to the CBI. In the case related to the Kiru hydel project, the CBI FIR said an investigation had been conducted by the J&K Anti-Corruption Bureau and the power department in the matter. 'Perusal of these reports reveals that in the award of civil works package of Kiru Hydroelectric Power Project, guidelines regarding e-tendering were not followed and though a decision was taken in the 47th Board Meeting of CVPPPL for re-tender through e-tendering with reverse auction, after cancellation of ongoing tendering process, the same was not implemented and the tender was finally awarded to Patel Engineering,' the CBI said in its FIR. The project, whose cost is estimated to be Rs 4,287 crore, has been marred by allegations of substandard work and its failure to provide jobs to local unemployed youth, officials claimed. The ACB probe into the matter observed that the project's tender had been cancelled in the 47th board meeting of the CVPPPL but was revived in the 48th board meeting and awarded to Patel Engineering.
