Patel Engineering (PATEN)
Patel Engineering (PATEN)
Patel Engineering (PATEN)
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NEW DEVELOPMENTS<br />
MoU with Arunachal Pradesh government<br />
<strong>Patel</strong> <strong>Engineering</strong> has entered into a MoU with the Arunachal<br />
Pradesh government for setting up a 100 MW Gongri hydel project<br />
in West Kameng district. The project shall be implemented on a<br />
BOOT basis for a lease period of 40 years from the commercial<br />
operation date. The expected revenue from the project is Rs 120<br />
crore a year. The company is already executing the Kameng 600<br />
MW hydel project for NEEPCO on cash contract. Therefore,<br />
logistics will be easily managed and there will be saving in<br />
overhead costs as well. This will help <strong>Patel</strong> to boost its margins<br />
further.<br />
Looking to acquire coal mines in foreign countries<br />
The company is looking to acquire coal mines in South Africa,<br />
Mozambique and Indonesia. The company is looking to have coal<br />
requirements for next 15-20 years and plans to raise funds for the<br />
same. The company is planning a capex requirement of nearly Rs<br />
100 crore.The acquisition of cola mines will provide raw material<br />
for its power projects as coal is in short supply in relation to its<br />
demand<br />
JV with KNR constructions: Bagged projects worth Rs 200 crore<br />
<strong>Patel</strong> <strong>Engineering</strong>, in a joint venture with KNR constructions,<br />
recently bagged a contract worth Rs 200 crore from NHAI for sixlane<br />
road between Madurai and Kanyakumari in Tamil Nadu.<br />
10 | P age
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