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Patel Engineering Declared Lowest Bidder for Contract Worth INR15.9 Billion for Hydro Power Project in Nepal

-- Patel Engineering (NSE:PATELENG, BOM:531120) has been declared the lowest bidder for a contract worth 15.9 billion Indian rupees from SJVN Lower Arun Power Development Company, according to a Thursday filing to the Indian stock exchanges.

The contract is for Package 2 of the 669 MW Lower Arun Hydropower Project in the Sankhuwasabha district of Nepal, which includes the execution of critical civil and hydromechanical works integral to the Lower Arun Hydro-Electric Project.

The project is scheduled to be completed within 54 months.

The company's shares were up nearly 1% inrecent trade.

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