Patel Engineering Receives ₹126.37 Crore Letter of Award for Tasgaon Lift Irrigation Scheme in Maharashtra
Maharashtra Krishna Valley Development Corporation has issued a Letter of Award (LOA) to a joint venture involving Patel Engineering Limited (PEL), awarding the contract for the Tasgaon Lift Irrigation Scheme in Maharashtra. The total value of the irrigation project stands at ₹126.37 crore (excluding taxes), with PEL securing a share amounting to ₹64.45 crore, representing 51% of the contract amount.The receipt of the LOA formalizes the award for the scheme, marking the commencement of project execution. This initiative is designed to strengthen irrigation infrastructure in Satara district and enhance water availability for agricultural development in the region.
Project Scope and Details
The Tasgaon Lift Irrigation Scheme involves the construction of a comprehensive water distribution system covering 2,277 hectares across six villages in Satara Taluka. The project is crucial for improving irrigation access and boosting agricultural productivity in Maharashtra.Key elements of the scope include:
- Infrastructure: Construction of headworks, pump houses, switchyards, rising mains, and delivery chambers.
- Distribution Network: Establishment of a closed pipe distribution network involving excavation, laying, and joining of MS, PCCP, and HDPE pipelines.
- Timeline: The entire project is scheduled for completion within 48 months.
The project location spans the villages of Tasgaon, Varne, Karandwadi, Devkarwadi, Degaon, and Nigadi in Satara Taluka, Satara district, Maharashtra.
Company Profile
Patel Engineering Limited (PEL) is a 77-year-old company established in 1949. The company has specialized experience across hydropower, tunnelling, and irrigation segments, maintaining a consistent track record in executing projects domestically and internationally.For clients, PEL has completed over 85 dams, 40 hydroelectric projects, and more than 300 km of tunnelling, serving central PSUs and state government organizations.
PATELENG Stock Price Movement
Patel Engineering Limited's stock gained today, closing at ₹27.65 after edging up 1.43% from its previous close. The shares saw brisk trading activity in the market, with approximately 4.49 million shares changing hands by the close.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.