Madhya Pradesh Jal Nigam, Government. of Madhya Pradesh Undertaking has declared a Mumbai based infrastructure company, Patel Engineering Limited (“Company” or “PEL”) as L1 in a Joint Venture for Rs. 1,275.30 crore contract for the works involving Engineering, Procurement, Construction, Testing, Commissioning, Trial Run and Operation & Maintenance for 10 Years of Narmada-Gambhir, District Ujjain & Indore Multi-Village Drinking Water Supply Scheme in a Single Package on ‘Turn-key Job Basis’.
Patel Engineering shares gained 3 percent to hit a 52-week high of Rs 58.54 in early trade on August 22 after a joint venture bagged an urban infrastructure development project from Madhya Pradesh Jal Nigam. On Wednesday the shares continued to trade higher with a jump of 2 per cent.
The project is to be completed in a period of 24 months and further operations and maintenance for the whole scheme to be carried out for a period of 10 years.
The said project is located in Ujjain and Indore, Madhya Pradesh and the project is to be executed in a Joint Venture, of which PEL’s share is 35%, i.e. Rs. 446.36 crore.
Mr Rupen Patel, Chairman and Managing Director, Patel Engineering Limited said, “The Narmada-Gambhir Drinking Water Supply Project would help in solving the shortage of water supply in various villages in the districts of Ujjain and Indore. The project comprises of various activities including construction of intake well cum pump house, construction of RCC approach bridge, laying of water pipelines, construction of water treatment plant, construction of RCC overhead service reservoirs at different villages, more than 50,000 house service connections as well as Design, Supply, Delivery, Erection, Testing, & Commissioning of Automation Components for Monitoring & Maintenance with GPRS Communication with all necessary accessories (SCADA) etc. We are thrilled to be part of this project in providing water supply to several households in the state of Madhya Pradesh.”
