Construction Industry News
Mumbai, August 28, 2023 – In a major development, Patel Engineering Limited, a prominent civil construction player with a focus on hydropower and irrigation, has emerged as a major contender along with its joint venture (JV) partner to execute the Dibang Multipurpose Project. The company has been awarded lot-4 for the construction of crucial civil works by NHPC Limited, a remarkable achievement for the companies involved.
The Dibang Multipurpose Project, which is of immense strategic importance, will be a game-changer in the energy and infrastructure sector. Patel Engineering and its JV partner have been selected for this project, following their status as the lowest bidder (L1) in the competitive bidding process. This remarkable achievement underscores Patel Engineering's capabilities in delivering complex and impactful projects within specified timelines.
As a 50% shareholder in the joint venture, Patel Engineering's share in the Dibang Multipurpose Project amounts to an impressive amount of Rs. 1,818.56 crores. This financial commitment is not only a testament to the company's commitment to progress, but also a testament to its expertise in carrying out large-scale projects of this nature.
The projected timeline for the completion of the Dibang Multipurpose Project spans 86 months and reflects the intricate nature of the project and the commitment required to bring it to fruition. The project site is located in the breathtaking landscapes of Arunachal Pradesh, India, further highlighting its importance in terms of both energy production and regional development.
The contractual agreement for the Dibang Multipurpose Project is based on an Engineering, Procurement, and Construction (EPC) item rate basis, indicative of the joint approach of Patel Engineering and its JV partner to ensure the successful realization of the project.
