Patel Engineering bags new order of Rs419.70 crore from MCGM

20 Apr 2022 , 09:17 AM

Patel Engineering, a civil construction firm specialising in the hydropower sector, has announced that it has bagged a Rs419.70 crore contract with Municipal Corporation of Greater Mumbai (MCGM) for the work of “Construction of Tunnel from Powai to Ghatkopar High Level Reservoir and further up to Ghatkopar Low Level Reservoir.”

Patel Engineering Limited is awarded with a contract for Construction of Tunnel from Powai to Ghatkopar High Level Reservoir and further upto Ghatkopar Low Level Reservoir (Remaining Works).

The tender was invited by the Municipal Commissioner, for and on behalf of Municipal Corporation of Greater Mumbai (MCGM), on Design-Build basis for construction of approx. 65 m deep shaft at Shipping Corporation of India (SCI) & further construction of approximately 2.8 km long reinforced concrete lined tunnel of 2.2 metres finished diameter from proposed shaft at SCI to Ghatkopar H.L.R (existing shaft) and further upto Ghatkopar L.L.R (existing shaft) , using full face rock tunnel boring machine and approx. 400 m long reinforced concrete lined tunnel of 2.2 metres finished diameter from shaft at SCI to existing location of tunnel boring machine (deployed by previous contractor) towards Powai shaft using NATM method and allied works, under National competitive bidding.

Further, the Letter of Acceptance for the contract is issued by MCGM and the works are scheduled to be completed in a period of 51months as per the Contract terms, pointed out the company in its regulatory filing.

At around 9:17 AM, Patel Engineering was trading at Rs26.70 per piece higher by 0.19% on the BSE.