Elecon engineering bags orders worth Rs 379 cr from DVC

Mumbai, Aug 7 (UNI) Material handling equipment major, Elecon Engineering Company Limited today announced procurement of the largest order for integrated coal handling plant in India worth Rs 379 crore from Damodar Valley Corporation (DVC), Kolkata, for their Mejia Thermal Power Station, Phase-II (2x500MW).

Prayasvin Patel, Chairman and Managing Director, Elecon Engineering said ''Elecon has recently announced excellent performance for Q1 due to a combination of factors like buoyant economy, high technology products backed by efficient service and aggressive marketing efforts of our entire team both in the domestic and in the International markets.'' ''We are delighted to have procured prestigious orders worth Rs 378.50 crore from Damodar Valley Corporation, Rs 20 crore from Chettinad International Coal Terminal Private Limited and Rs 9.70 from The India Cements Limited,'' he said.

As per the order received by the Material Handling Equipment (MHE) division, Elecon would supply Coal unloading through Track Hopper, crushing and screening system, storage facilities and associated conveyor system handling coal at 1250 MTPH capacity. The Project is expected to be completed in 26 months time, effective from July 27 this year.

Earlier, the Company has recorded a turnover of Rs 129.63 crore and Net Profit of Rs 10.41 crore for the quarter ended June 30, 2007 as against the turnover of Rs 94.57 crore and Net Profit of Rs 5.4 crore during the corresponding period of the previous year. The turnover and Net Profit have gone up impressively by 37 per cent and 93 per cent respectively for Q1 over the corresponding period of last year.

Established in 1951 in Vidyanagar, Elecon pioneered the manufacture of MHE for the last five decades. It has grown over the years to be known as a pioneer of mechanised way of Bulk Material Handling Equipment in India.

UNI