Madhucon Projects, a premier infrastructure development conglomerate, has announced that it has secured an engineering procurement and construction (EPC) contract worth Rs 989.5 crore from Simhapuri Energy Pvt Ltd for setting up of Thermal Power Plant in Krishnapatnam South, Nellore District of Andhra Pradesh.

Simhapuri Energy Pvt Ltd is a joint venture in which Madhucon itself is owner of 48 percent stake, with another 26 percent hold by Hyderabad-based Mahalaxmi group.

The proposed project, which is scheduled to be completed in 26 months will set up 2X 135 MW coastal-based thermal power project at Tamminapatnam and Mommidi villages at Chilakur Mandal, Nellore district, Andhra Pradesh.

Madhucon's energy unit has recently inked memorandum of understanding with Jharkhand State Government for setting up a 1,000 MW thermal power plant, which entails an investment of Rs 4,800 crore.

Madhucon Projects is specialized in construction of national highways, BOT toll roads, dams, canals, aqueducts, workshops, power projects, coal mines and residential cum commercial ventures.

The company has also been awarded 2 Hydel Power projects by state of Arunachal Pradesh for setting up of 165 MW and 150 MW in Etabu and Elango.

Shares of Madhucon Projects ended the day at Rs 309, up 6.2 per cent on National Stock Exchange.