Ahmedabad-based leading engineering, procurement and construction (EPC) company-Jaihind Projects Limited-has bagged a contract worth Rs 1100 crore for the execution of the water transmission system from Taif to Al Baha in Saudi Arabia.
The contract has been awarded by Saline Water Conversion Corporation to a joint venture (JV) between Arabian Pipeline Projects Co. Ltd. and Jaihind.
“The local company will have Rs 300 crore share in the JV. The work will start in July 2010 and is likely to be accomplished within 16 months from the date of commencement of the work”, the company said in a release.With this, the order backlog for the Jaihind Projects Limited would stand at Rs 900 crores.
Jaihind Projects Limited is expecting a topline of Rs 480 crores in financial year 2009-10 out of which they have accomplished Rs 255 crores in last three quarters.
The company aims to have a topline of Rs 225 crores for the current quarter ending march 2010.