Patel Engineering bags new order of Rs2,461 crore from Chenab Valley Power Projects

Patel Engineering, a Premier civil construction Company specialised in the hydropower sector, has announced that it has bagged a Rs2,461 crore contract for the works of “Construction of Diversion Tunnel, Concrete Gravity Dam, Intake, Pressure Shafts, Underground Power House & Tailrace Tunnel (Lot 1) for Kwar HE Projects in District Kishtwar, J & K, India” (Kwar HE Project).

The Kwar HE Project is being executed by Chenab Valley Power Projects Limited, a Joint Venture of NHPC Limited (a Govt of India Enterprise) & JKSPDC (a Govt of J & K Enterprise) (the Authority) to harness the vast hydro potential of river Chenab. Hon’ble Prime Minister laid the foundation stone of Kwar HE Project.

Kwar HE Project is a run-of-river scheme with a Concrete Gravity Dam located at District Kishtwar of J & K. The Project envisages construction of 109m high concrete gravity dam above deepest foundation across river Chenab of length 195m at top. Kwar HEP is a 540MW (4x 135 MW) project with estimate generation of 1975.54 MU (in a 90% dependable year).

The Letter of Acceptance for the Contract is issued by the Authority and the works are scheduled to be completed in a period of 48 months as per the Contract terms. The Company already has three ongoing projects in the nearby Vicinity in the J&K State with similar geological terrains which is an added advantage for execution of this new Project.

Patel Engineering ended at Rs22.05 apiece up by Rs1.05 or 5% from its previous closing of Rs21 apiece on the BSE.

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( With inputs from indiainfoline)