Uttarakhand Government Hikes Hospital Contract Estimate To Rs 593.99 Crore
Power Mech Projects attributed the hike in estimate from the earlier one of Rs 362 crore to a change in the scope of work.
The Uttarakhand government revised the estimate for the government hospital contract, which it had assigned to Hyderabad-based Power Mech Projects Ltd., to Rs 593.99 crore. The earlier base gross value for the construction project was set at Rs 362 crore.
The government has increased the estimate due to a change in the scope of work awarded to Power Mech Projects, the company said in an exchange filing on Monday.
Power Mech Projects had received the tender for building a government medical college and hospital in Uttarakhand in April 2023. The construction project was assigned by Uttarakhand Pey Jal Nigam Ltd.
In May, the company had also bagged an order worth Rs 563 crore from state-owned BHEL to construct a nuclear power plant. This was the company's first construction project in the critical nuclear power sector.
Shares of Power Mech Projects closed 0.90% higher at Rs 6,089.85 apiece, as compared to a 0.13% decline in the BSE Sensex.
