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FINWIRES

Hindustan Construction Company JV Bags New Order Worth INR29.2 Billion

-- Hindustan Construction Company (NSE:HCC, BOM:500185), through its joint venture, has clinched an infrastructure contract worth 29.2 billion Indian rupees from the City and Industrial Development Corporation of Maharashtra (CIDCO), according to a Friday filing to the Indian stock exchanges.

The contract is for the construction of a 22.21 km raw water tunnel and a 250 million liters per day water treatment plant in Raigad in Maharashtra, India.

The project has been awarded to the company's joint venture LCESPL-HCC, in which HCC is responsible to execute works worth around 11 billion rupees.

The scope of work also includes the design, build, supply, erection, testing and commissioning of the water treatment plant, along with 15 years of comprehensive operation and maintenance under a design, build and operate (DBO) contract model.

The company's shares were down nearly 1% in recent trade.

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