Continental Petroleums Limited is L1 bidder for Distribution Infrastructure work amounting to Rs 32.64 Cr.
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Continental Petroleums Limited has won a Letter of Intent (LOI) from Jaipur Vidyut Vitran Nigam Ltd. (JVVNL), a Government of Rajasthan undertaking, for distribution infrastructure work. The project involves segregation of 11 KV mixed feeders at Jhalawar in Rajasthan under the Revamped Reforms-based and Results-linked Distribution Sector Scheme (RDSS). The contract value is Rs 32.64 crore, executed on an EPC (turnkey) basis, with a completion period of 16 months. The company had been declared the L1 (lowest) bidder for this project.
This is a meaningful new order for Continental Petroleums, strengthening its order book in the turnkey projects segment. Being a government-backed order with a defined 16-month execution timeline, it provides revenue visibility, though the stock may see only a modest reaction given the company's small size.