Engineers India acquires Rs 1,039 cr Cauvery Basin Refinery project
OIL & GAS

Engineers India acquires Rs 1,039 cr Cauvery Basin Refinery project

Engineers India acquired 2.64% to Rs 73.85 after the firm told the media that it bagged a Rs 1,039-crore order from Chennai Petroleum Corporation (CPCL).

Engineers India was trading at Rs 73.05 per piece, increased by 1.5%. The stock has surged over 2%, with an intraday high of Rs 74.60 per piece.

Chennai Petroleum was trading at Rs 114.05 per piece, surged by 2.6% on Sensex. The stock has obtained over 4% with an intraday high of Rs 115.90 per piece.

On Friday, Engineers India, in a regulatory filing to stock exchanges, said that the Chennai Petroleum Corporation consigned the project for execution of EPCM-1 with MPMC & EPCM-3 services for 9 MMTPA Cauvery Basin Refinery (CBR) Project at Nagapattinam, Tamil Nadu. The total granted order value is Rs 1039 crore, with a total project schedule of 42 months for mechanical completion.

Engineers India renders engineering, design, acquisition, construction, and integrated project management services primarily for gas, and oil and petrochemical firms. The Government of India held a 51.32% share in the firm as of June 30, 2021.

Image Source

Engineers India acquired 2.64% to Rs 73.85 after the firm told the media that it bagged a Rs 1,039-crore order from Chennai Petroleum Corporation (CPCL).Engineers India was trading at Rs 73.05 per piece, increased by 1.5%. The stock has surged over 2%, with an intraday high of Rs 74.60 per piece. Chennai Petroleum was trading at Rs 114.05 per piece, surged by 2.6% on Sensex. The stock has obtained over 4% with an intraday high of Rs 115.90 per piece. On Friday, Engineers India, in a regulatory filing to stock exchanges, said that the Chennai Petroleum Corporation consigned the project for execution of EPCM-1 with MPMC & EPCM-3 services for 9 MMTPA Cauvery Basin Refinery (CBR) Project at Nagapattinam, Tamil Nadu. The total granted order value is Rs 1039 crore, with a total project schedule of 42 months for mechanical completion. Engineers India renders engineering, design, acquisition, construction, and integrated project management services primarily for gas, and oil and petrochemical firms. The Government of India held a 51.32% share in the firm as of June 30, 2021. Image Source

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000