"Patel Engineering Secures Rs. 525.36 Crore Contract in Khammam City, Telangana, With Joint Venture Partner"

Patel Engineering Limited (NSE - PATELENG & BSE - 531120) (PEL), along with its joint venture partner, has been granted the Letter of Acceptance (LOA) by the Irrigation & CAD Department, Government of Telangana, for a substantial contract worth Rs. 525.36 crore. The contract entails the construction of an 8.5 km Reinforced Cement Concrete (RCC) Protection Wall on both the right and left banks of the Munneru River, extending from Polepally to Prakashnagar in Khammam City, situated in Khammam District.

Additionally, the project involves the construction of embankments spanning 2 kilometers each on both sides of the River Munneru near the Nagarjuna Sagar Left Bank Aqueduct in Khammam City. This comprehensive approach underscores the project's significance in bolstering the area's irrigation infrastructure and water management systems.

Expressing gratitude for the opportunity, Mr. Rupen Patel, Chairman & Managing Director of Patel Engineering Limited, stated, "We are privileged to have been entrusted by the Irrigation & CAD Department, Government of Telangana, with this substantial project. This initiative is not merely about constructing an RCC Protection Wall and embankments along the Munneru River; it represents a pivotal step towards establishing a sustainable future for Khammam District. Our collaboration on this Rs. 525.36 crore project reflects PEL's commitment to spearheading infrastructure development, particularly in enhancing irrigation and water management systems. We eagerly anticipate working closely with the government and all stakeholders to deliver on our commitments and contribute to the transformation of Telangana's landscape."

The awarded project marks a significant milestone in Telangana's infrastructure and irrigation endeavors. PEL's involvement underscores its leadership in infrastructure projects aimed at improving water management and supporting agriculture in Khammam District. With a targeted completion timeframe of 24 months, this project underscores PEL's dedication to enhancing community welfare and environmental sustainability in collaboration with government agencies and local stakeholders.

EQUITYBULLS