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Power Mech Projects gains on receiving orders worth ₹232 crore from BHEL
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The second order worth ₹52.74 crore, pertaining to Yadadri TPS Unit 4 and 5, will be completed within 15 months from the award of the contract.
Power Mech Projects Ltd shares gained on Thursday after the company announced receiving multiple orders worth ₹232 crore from state-owned BHEL.
In a filing to the stock exchanges, the company said that it has received three orders from the central public sector undertaking (BHEL) amounting to a total of ₹232.03 crore.
The first order worth ₹122.89 crore pertains to the erection of powerhouse units and other buildings for supply and installation requirements at NTPC, Talcher, in Odisha. Then it also includes the erection of an Ash handling plant, tank fabrication, FGD structure, and other miscellaneous buildings at NTPC.
Apart from these, the order also pertains to building a coal handling plant structure at the same unit. This project has to be executed within the next 32 months.
The second order, worth ₹52.74 crore, includes balance civil and architectural works of the bunker area, the superstructure of a powerhouse, and in other areas of the main plant of Yadadri TPS Unit 4 and 5. This project will be completed within 15 months from the award of the contract.
The third order from BHEL is worth ₹ 56.4 crore. It includes the erection of mechanical structure at PP2 along with a balanced quantity of Coke over projects. This will be at Jindal Steel’s Angul plant in Odisha. This project will be completed within 14 months.
Power Mech is a leading entity in the industrial construction sector. It provides services, which include Civil Engineering, industrial services, spare part management and workshops, overseas business, and more. While it is headquartered in Hyderabad, its subsidiaries are present across countries such as Noida, Saudi Arabia, and Nigeria.
Shares of Power Mech Projects were trading at ₹5014.30 apiece, down 0.23%, on the BSE at 3:18 pm.
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