Patel Engineering gained 1.82% to Rs 15.13 after securing the Tumkur Branch Canal (Package V) micro irrigation project worth Rs 551.11 crore with a joint venture partner. The civil construction company and its JV partner received a letter of acceptance (LoA) from Visvesvaraya Jala Nigama (VJNL) for the Tumkur Branch Canal (Package V) micro irrigation project, which was previously designated as L1.
The micro irrigation system project includes survey, design, supply, installation, testing, and commissioning of gravity bulk feeders, the construction of a sump cum pump house, the supply and installation of pumping machineries, a terminal bay, an electrical substation, and an electric power line, as well as other appurtenant works such as the construction of a pipe distribution network and drip irrigation system including SCADA and Automation over a 15,090.21 Ha area.
The contract is worth Rs 551.11 crore. As a 51% partner in the JV, the company’s stake in the project is Rs 281.07 crore. The micro irrigation project will take 24 months to complete. Patel Engineering is a construction firm that specialises in hydropower generation and irrigation. We are primarily civil contractors engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures, and other types of heavy civil engineering works, and have completed a variety of infrastructure projects in the hydro power, irrigation and water supply, urban infrastructure, and transportation segments.