State-owned Bharat Heavy Electricals Ltd. on Friday received notification of award for a Rs 6,100-crore project from NTPC Ltd. The project is to be completed in two years from the date of notification of award.
The order is for engineering, procurement, and construction package for 1x800 MW Sipat Supercritical Thermal Power Project Stage-III, in Chhattisgarh, according to an exchange filing. The project includes supply of equipment, construction, commissioning and civil works for the thermal power plant.
This comes after NTPC's board of directors on Thursday approved a total investment of Rs 20,922 crore across two major power projects. It accorded investment approval for the stage III (1x800 MW) of the Sipat Super Thermal Power Project at an estimated cost of Rs 9,790.9 crore in Chhattisgarh.
It also allocated Rs 11,131 crore for stage II (1x800 MW) of the Darlipali Super Thermal Power Project in Odisha at an estimated cost of approximately.
Shares of BHEL closed 3.50% higher at Rs 266.15 apiece on the NSE, compared to a 1.48% advance in the benchmark Nifty. The share price has risen 115.33% in the last 12 months and 34.32% on a year-to-date basis.
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