The company said it is making an entry into oil and gas sector with this project. However, it said that through its subsidiary Hindustan Dorr Oliver (HDO), it has been executing effluent treatment plants (ETP), including manufacturing of the core equipment for the refineries that are construction in India.
The ONGC project has to be completed in 21 months and it includes earth excavation of around 37 lakh cubic meters and soil stabilisation of nearly 86 lakh cubic meteres with a special soil approved by the Foster Wheeler of UK, the consultants of the project.
The company's stock was trading at Rs 409.35, nearly 1.29 per cent down from Friday's close.