Engineers India Limited signs pact with an Algerian firm
On January 27, Engineers India Limited (EIL) announced that it has signed a contract with Sonatrach Spa, an Algerian company engaged in the development of oil and gas projects worldwide, for carrying out studies and providing project management consultancy (PMC) services for rehabilitation of ethylene Unit at Skikda Petrochemical Complex.
The duration of the project is 23 months and the estimated contract value is Euro 7,007,740 and Algerian Dinar 20,645,416 (equivalent to Rs 50 crore).
Besides, Engineers India had delivered returns 49.04 per cent in a stock of one year. The stock has delivered 24.92 return in a period of three years and 4.84 returns in a period of five years on an annualised basis.
Moreover, the stock has outperformed the Bombay Stock Exchange (BSE) mid-cap and Nifty Infrsatructure in a period of one year.