“Patel Engineering, a civil construction company specialising in the hydropower sector has bagged a Rs 1,251 crore, lot II civil work contract for 500 MW Teesta-VI Hydro Electric Project, Sikkim from Lanco Teesta Hydro Power, a wholly owned subsidiary of NHPC Ltd, a company statement said.
PTI
September 27, 2021 / 12:30 PM IST
NHPC | The power company in its BSE filing said it had completed the formalities for takeover of Rangit Stage-IV HE Project (120 MW) by remitting Rs 165 crore to Jalpower Corporation (JPCL) for distribution to the creditors. JPCL is now a wholly owned subsidiary company of NHPC. This news came in after market hours on March 31. The stock closed 2.78 percent lower at Rs 24.45 on March 31. It hit a 52-week high of Rs 26.65 on March 4, 2021, and a low of Rs 19.25 on April 3, 2020. The market-cap of the company stands at Rs 24,560.11 crore.
Patel Engineering on Monday said it has bagged a civil work order worth Rs 1,251 crore for 500 MW Teesta-VI hydro power project in Sikkim from Lanco Teesta Hydro Power Ltd, an arm of state-run NHPC.
“Patel Engineering, a civil construction company specialising in the hydropower sector has bagged a Rs 1,251 crore, lot II civil work contract for 500 MW Teesta-VI Hydro Electric Project, Sikkim from Lanco Teesta Hydro Power, a wholly owned subsidiary of NHPC Ltd, a company statement said.
The project is located at South Sikkim District in Sikkim, India.
Patel Engineering Ltd (PEL) is a 72-year company established in the year 1949
and has a strong presence in tunnels and underground works for hydroelectric and dam projects.
The company has a consistent track record in execution of projects in domestic and international arena.
PEL has completed over 85 dams, 40 hydroelectric projects and more than 300 km of tunnelling for clients which are mostly central PSUs or state government organisations.
