Patel Engineering has received an order valued at Rs 6.96 billion from Andhra Pradesh State Government for up gradation of Krishna Delta System.

The scope of order includes massive modernization plan of the major river delta systems to enhance irrigation prospective along different canals, channels and their distributaries on EPC Turn Key Basis. 

The project is likely to be finished in next 36 months.

Moreover, the company is close to purchasing a mid-sized coal mine in Indonesia for about Rs 1 billion.

The mine will be utilized for the company’s proposed 1,200-mw power facility in Gujarat.

The company has mentioned some coal mines in Indonesia as buyout targets.

Patel Engineering’s thermal power plant will be established in Bhavnagar in Gujarat with a total investment of Rs 50 billion.

Established in 1949, Patel Engineering provides the complete range of civil engineering services.

At 12:11 pm, shares of the company gained Rs 20.15 at Rs 372.50 on the BSE. It has touched an intraday high of Rs 385 and an intraday low of Rs 366. It was trading with volumes of 39,654 shares, as against its five-day average of 6,944 shares, an increase of 471.09%. The share price has seen a 52-week high of Rs 1070 and a low of Rs 286.05 on BSE. Yesterday (Sep 18), the share closed at Rs 352.35, down Rs 11.35.