L&T bags project from NVDA

Engineering and construction giant Larsen & Toubro (L&T) confirmed that its construction arm has successfully bagged a prestigious EPC order from Narmada Valley Development (NVDA), Government of Madhya Pradesh. The large order comes for executing a micro irrigation project. The project to be executed is Indira Sagar-Parwati Phase III and IV Lift Micro Irrigation project. The company didn’t provide the exact value of the contract but the estimation of the large order – as stated by L&T, is valued somewhere between Rs. 2500 crore and Rs. 5000 crore.

This order has come again from NVDA as per reports and L&T is already executing the Parwati Phase I and II and various other projects. This new project will provide water for micro irrigation. The provision of water – as per the project capacity is one lakh hectares of cultivable command area in the Sehore and Shajapur districts of Madhya Pradesh. It is being done by lifting 32.04 Cubic meters per second of water from the Indira Sagar Project Reservoir.

The order NVDA includes survey, design, procurement, construction and installing of the pumping system. Raising and distribution of pipeline networks, electric power transmission lines and automation system by Supervisory Control and Data Acquisition (SCADA). This latest bagging of the order has affected L&T shares. The shares of L&T were trading at Rs. 1358.35 per piece on BSE. It is actually down by 0.52 percent from the previous day. Though, this project will boost the shares.