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BHEL surges on new EPC contract worth $1.28 billion

New Delhi: Shares of Bharat Heavy Electricals rose nearly 5 percent on the BSE on Thursday after company said that it won a Rs 78 billion ($1.28 billion) contract for a power project.The contract is

India TV Business Desk [ Updated: October 09, 2014 14:16 IST ]
bhel surges on new epc contract worth 1.28 billion
bhel surges on new epc contract worth 1.28 billion

New Delhi: Shares of Bharat Heavy Electricals rose nearly 5 percent on the BSE on Thursday after company said that it won a Rs 78 billion ($1.28 billion) contract for a power project.

The contract is for setting up a 1,320 MW supercritical thermal power project on EPC (Engineering, procurement & construction) basis from Tamil Nadu generation and distribution corporation (TANGEDCO).

At 2:17 p.m., the stock was up 8.36 per cent and was trading at Rs 219.4, up Rs 16.80.

The order is for setting up a 2x660 MW coal-fired thermal power project at Ennore Special Economic Zone in Tamil Nadu.

The power plant will be constructed on a reclaimed ash pond, calling for specialised civil design, utilising an otherwise barren land.

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