Gayatri Projects bags Rs 1,363 crore contract

Gayatri Projects, in association with with RNS Infrastructure and Sadguru Infratech, has bagged Rs 1,363 crore irrigation contract from the government of Karnataka
The joint venture project from Executive Engineer, Karnataka Neeravari Nigama, entails the execution of a lift irrigation system to provide irrigation for an area of 27,462 hectares.
It also involves operations and maintenance of the system for five years after commissioning. To be executed on a lump sum turn-key basis under the EPC mode, the contract does not require any investment from the company.
Commenting on it, TV Sandeep Reddy, MD of Gayatri Projects, told CNBC-TV18: “The company has 70 percent share in the joint venture and most of the work will be executed by the company. It will start booking revenue from Q1FY18. Currently the company has orderbook of Rs 13,000 crore.”

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