Patel Engineering Secures Rs. 718 Crore Hydropower Project in Arunachal Pradesh

The latest update is out from Patel Engineering Limited ( (IN:PATELENG) ).

Patel Engineering Limited has been declared the lowest bidder for a Rs. 718 crore contract to construct the 240 MW HEO Hydro Electric Project in Arunachal Pradesh, awarded by the North Eastern Electric Power Corporation Limited (NEEPCO). This project, expected to generate 1,000 million units of energy annually, aims to enhance the power supply in the state and contribute to the national grid’s balance, with completion anticipated in 44 months. The project involves comprehensive civil and infrastructure works, including the testing and commissioning of hydro-mechanical plant and machinery.

More about Patel Engineering Limited

Patel Engineering Ltd. (PEL) is a 76-year-old company established in 1949, with a strong presence in the hydropower, tunnelling, and irrigation segments. The company has a consistent track record of executing projects both domestically and internationally, having completed over 85 dams, 40 hydroelectric projects, and more than 300 km of tunnelling, primarily for central PSUs or state government organizations.

YTD Price Performance: -16.30%

Average Trading Volume: 491,534

Current Market Cap: 36.81B INR

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