Shares of IL&FS Engineering and Construction Company rallied 5 percent intraday Friday on getting LOA (letter of award) for EPC pipeline laying contract worth Rs 213 crore. "IL&FS has bagged an EPC contract from Indian Strategic Petroleum Reserves, Ministry of Petroleum and Natural Gas, Government of India, for laying of pipeline from land fall point, Mangalore port to Mangalore/Padur Cavern via intermediate valve station for storage of crude oil project," says the company in its filing. The total length of project is 50 Km and the project is to be completed within 15 months from the date of issue of LOA. The company is currently executing pipeline projects of Gujarat State Petronet on EPC basis and two oil & gas projects.
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