Hot Pursuit     29-May-24
Power Mech bags its first construction contract from BHEL worth Rs 563 crore
Power Mech Projects said that it has been awarded its first construction project in the critical nuclear power sector, which is valued at Rs 563.23 crore, by BHEL - Power Sector Southern Region.

The contract is for civil, structural, and architectural works of TURBINE ISLAND package of 2 x 700 MWe, PHWR, Kaiga Atomic Power Project (Units 5 and 6) in Uttar Kannada district, Karnataka.

The scope of work includes number of segments covering civil, electrical, and structural works like TG building, foundation for all equipment, chemical lab, storage tanks, peripheral drains, sewage network, storm water drains, culverts, plinth protection, pipes and cable bay, condenser cooling water pipes, plumbing and sanitary works, etc.

Sajja Kishore Babu, chairman and managing director, said: "This historic accomplishment is a testament to PMPL's proven credibility and continuous track record in managing complex projects, and its ability to meet the stringent quality and safety requirements in the nuclear power industry.

In securing this project, another door opens for PMPL to further its establishment in the nuclear power sector and contribute to the nation's growing sustainable energy needs.”

Power Mech Projects is an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M).

The company's consolidated net profit rose 21.53% to Rs 61.52 crore on 21.82% increase in revenue from operations to Rs 1,107.50 crore in Q3 FY24 over Q3 FY23.

The scrip rose 1.84% to end at Rs 4795.45 on the BSE today.

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