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Patel Engineering Ltd has signed a memorandum of understanding (MoU) with the government of Arunachal Pradesh for the restoration and development of the 144 MW Gongri Hydropower Project in West Kameng district, the company announced on Thursday, December 18.
In an exchange filing, the company said the project, which was earlier terminated, has been revived under the state’s newly notified "Arunachal Pradesh Restoration of Terminated Large Hydropower Policy under Special Circumstances, 2025." The Gongri project is the first hydropower project to be restored under this policy, following approval by the state cabinet.
The total project cost is estimated at around ₹1,700 crore, with construction expected to take about four years, the company added.
Commenting on the development, Managing Director Kavita Shirvaikar said: "This collaboration underscores our commitment to renewable energy and sustainable development. The project will harness the immense hydro potential of the region while ensuring socio-economic benefits for local communities."
Under the MoU, Patel Engineering will be responsible for the entire lifecycle of the project, including preparation and validation of the detailed project report (DPR), engineering and design, procurement of electro-mechanical equipment, construction of the dam and powerhouse, installation and commissioning of turbines and generators, and development of transmission infrastructure.
The project will be implemented on a BOOT (Build-Own-Operate-Transfer) basis with a 40-year lease period, after which the asset will be transferred to the Arunachal Pradesh government.
Hydropower projects are a key part of Arunachal Pradesh’s push to position the sector as a major economic driver, with the state aiming to scale up clean energy capacity, while creating jobs and supporting regional infrastructure development.
Patel Engineering has a long presence in hydropower and infrastructure development, with experience across dams, hydroelectric projects, tunnelling and irrigation works in India and overseas.
In November, the infrastructure company secured two letters of intent (LoIs) worth a combined ₹798.19 crore for a coal excavation and transportation project in Chhattisgarh. At the end of the September quarter, the company's
order book stood at ₹15,146.4 crore
.
Shares of Patel Engineering were trading 2.11% up at ₹31.40 as of 12:38 pm. The stock has fallen 20.08% in the last six months.
Catch live market updates with CNBC-TV18.com's blog
In an exchange filing, the company said the project, which was earlier terminated, has been revived under the state’s newly notified "Arunachal Pradesh Restoration of Terminated Large Hydropower Policy under Special Circumstances, 2025." The Gongri project is the first hydropower project to be restored under this policy, following approval by the state cabinet.
The total project cost is estimated at around ₹1,700 crore, with construction expected to take about four years, the company added.
Commenting on the development, Managing Director Kavita Shirvaikar said: "This collaboration underscores our commitment to renewable energy and sustainable development. The project will harness the immense hydro potential of the region while ensuring socio-economic benefits for local communities."
Under the MoU, Patel Engineering will be responsible for the entire lifecycle of the project, including preparation and validation of the detailed project report (DPR), engineering and design, procurement of electro-mechanical equipment, construction of the dam and powerhouse, installation and commissioning of turbines and generators, and development of transmission infrastructure.
The project will be implemented on a BOOT (Build-Own-Operate-Transfer) basis with a 40-year lease period, after which the asset will be transferred to the Arunachal Pradesh government.
Hydropower projects are a key part of Arunachal Pradesh’s push to position the sector as a major economic driver, with the state aiming to scale up clean energy capacity, while creating jobs and supporting regional infrastructure development.
Patel Engineering has a long presence in hydropower and infrastructure development, with experience across dams, hydroelectric projects, tunnelling and irrigation works in India and overseas.
In November, the infrastructure company secured two letters of intent (LoIs) worth a combined ₹798.19 crore for a coal excavation and transportation project in Chhattisgarh. At the end of the September quarter, the company's
Shares of Patel Engineering were trading 2.11% up at ₹31.40 as of 12:38 pm. The stock has fallen 20.08% in the last six months.
Catch live market updates with CNBC-TV18.com's blog
