Patel Engineering Limited has informed the Exchange about General Updates
PATELENG · price
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The Public Procurement Monitoring Office of the Government of Nepal has blacklisted the joint venture RAMAN PATEL J.V. — comprising Patel Engineering Limited (35% stake) and Raman Construction Private Limited (65% stake) — for a period from May 27, 2026 to May 26, 2029. The blacklisting relates to the Sunkoshi Marin Diversion Multipurpose Project, Lot-1, for the Ministry of Energy, Department of Water Resources and Irrigation of Nepal. Disputes arose between the JV and the employer over their respective obligations, leading to contract termination and subsequent blacklisting. All related disputes are pending adjudication and remain sub-judice.
Patel Engineering states there is no material financial or operational impact since project execution was entirely managed by Raman Construction, the lead JV partner holding 65%.