The share price of Choice International zoomed more than 5 percent intraday on April 2 after the company's subsidiary secured a Rs 520-crore project.
At 12:05am, Choice International was quoting Rs 292.00, up Rs 11.95, or 4.27 percent, on the BSE.
Choice Consultancy Services Pvt Ltd, a subsidiary of Choice International, announced winning of a project for the development of a solar plant for Jodhpur Vidyut Vitran Nigam in a joint venture partnership with Solar91 Cleantech Pvt Ltd.
The Rs 520-crore project is expected to entail a capex outflow of Rs 152 crore.
In this project, Choice and Solar91 together will act as key advisors, undertaking comprehensive tasks, including detailed site surveys, supervision of the design, supply, and installation of the solar power
plant.
They will oversee the installation of associated 33kV or 11kV lines, conduct testing and commissioning activities, and manage the construction of control rooms.
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The initiative entails setting up a 34.72 MW (AC) solar plant during an implementation period of 12 months, with a 25-year operation and maintenance period.
"It is an honour to partner with Jodhpur Vidyut Vitran Nigam Ltd, marking yet another significant milestone in our journey towards supporting sustainable energy projects. At Choice, our dedication to
the renewable energy sector is unwavering, and we are actively driving forward to broaden our portfolio following our notable success in Water Management, Road & Highway, and Urban Development sectors," said Arun Poddar, CEO of Choice International.
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