Patel Engineering secures orders worth Rs 447 cr

New Delhi, July 24 (UNI) Patel Engineering today said it has bagged two orders worth Rs 447 crore from National Highways Authority of India (NHAI) and the Municipal Corporation of Greater Mumbai (MCGM).

The NHAI Rs 410 crore contract for design, construction, development, finance, operation and maintenance of National Highway NH-7 in Karnataka, will be jointly executed by the company and KNR, and will generate a total revenue of Rs 1185.84 crore. The work on the project is expected to commence from December 2006.

The project also involves improvement, operation and maintenance of Km 524 (Avathi Village) to Km 527 (Nandi Hills Crossing) and Km 535 (Devanhalli Village) to Km 539 (Meenukunte Village) on NH-7 in Karnataka under the North- South Corridor (NHDP Phase II).

''Patel Engineering, as part of its growth strategy, is moving towards annuity-based projects in road construction and looking at opportunities in hydropower sector as an independent power producer (IPP),'' said Patel Engineering Managing Director Rupen Patel.

The Rs 37.13 crore contract from the MCGM is for the rehabilitation of sewer lines by GRP Liners using Trenchless Technology.

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