Engineers India gains on contract with Bangladesh Petroleum Corporation

The project management consultancy contract is valued at US$ 16.54 million

Shares of Engineers India were up 1.3% at Rs 183 on the Bombay Stock Exchange after the company said it has entered into a contract with Bangladesh Petroleum Corporation (BPC).

The company in a release said that it will provide project management consultancy for installation of ERL Unit-2 in Chittagong, Bangladesh for US$ 16.54 million.

BPC will implement the ERL Unit-2 project at a cost of US $1.7 billion over the next three years.

The project will be the largest ever single consultancy assignment for EIL in Bangladesh, the release added.

The stock opened at Rs 184 and touched a low of Rs 182. At 11:45am, over 395,000 shares were traded on both the stock exchanges.