Patel Engineering secures Rs 518 cr order

New Delhi, May 30: Construction firm Patel Engineering Ltd today said it has bagged an order worth Rs 518 crore from National Highways Authority of India (NHAI).

The company will take up the project on a build-operate-transfer (BOT) basis in Andhra Pradesh. The semi-annual annuity project will generate total revenue of Rs 1,597.32 crore, it said in a statement.

The project under North-South Corridor (NHDP Phase II) will be jointly executed by the company and KNR Constructions.

''We would focus on selective road development projects following government's new initiative to encourage private sector participation in the road sector development through BOT annuity projects,'' Patel Engineering Managing Director Rupen Patel said.

The company's order book position stood at about Rs 5,000 crore as on March 31, 2007.

The 48-km project will involve construction and maintenance of the section of the NH-7 highway.

UNI