25 Apr 07 Madhucon Projects bags new irrigation project

Madhucon Projects today announced that it bagged an irrigation project of GNSS main canal in Kadapa district inÃ‚Â Andhra Pradesh. This project is valued at around Rs. 134 crores. With this new order Madhucon Projects now has an order bookÃ‚Â in excess of a whoopingÃ‚Â Rs. 5000 crores.

Madhucon Projects recently entered intoÃ‚Â coal mining in Indonesia.Ã‚Â Ã‚Â Madhucon Projects has incorporated a fully owned Indonesian subsidary company calledÃ‚Â PT Madhucon Indonesia for the purpose of coal mining. Madhucon Projects has also entered into the power sector with 48% equity participation in Simhapuri Energy which is a special purpose vehicle (SPV) promoted in partnership with Hyderabad-based Mahalaxmi Group.

After this announcement was made today, the shares of Madhucon Projects surged by about 6% to Rs. 217

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