EIL shares in focus amid securing PMC contract from Indian Oil worth Rs 106 crore
The total estimated contract value for this agreement is approximately Rs 106 crore and the project is scheduled to be completed in 10 months, the company said in a stock exchange filing.
Shares of Engineers India Ltd, a state-run firm gained nearly 2% on Thursday, February 13, as the company said it has secured a project management consultancy contract worth Rs 106 crore from Indian Oil Corporation Ltd, as per the filing.
The company has received the order for Phase-I of Project Management Consultancy (PMC) Services for the Paradip Petrochemical Complex project in Paradip, Odisha.
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The contract involves the overall Project Management and Managing Project Management Consultancy (MPMC) Services, along with specific Project Management Consultancy (PMC-2) Services for the PP, IPA, EDC/VCM units, and the Offsites and Utilities (O&U) components under the PDPC.
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The Paradip Petrochemical Complex, located in Paradip as an initiative by IOCL will enhance the country’s petrochemical production capacity and the first phase of the project will provide comprehensive consultancy services, including overall project management for the entire venture and specific management support for various crucial units within the complex.
Shares of Engineers India Ltd gained as much as 1.92% in morning trade to hit an intraday high of Rs 171.65 apiece on the BSE.
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