Hyderabad based Megha Engineering & Infrastructure (MEIL) company bagged another mammoth project. This time is the Rs 4509.5 Crore tunneling contract for the prestigious Zojila project in Jammu and Kashmir.
Meil, topped the tender list of National highways and infrastructure projects, by quoting the lowest for L-1 project. The Hyderabad based company will be constructing, two divisions in two sections of about 33 kilometers ( From Z-Morh tunnel to Zoji La tunnel between Sonamarg-Kargil on National highway -1 in the Zoji la pass area. According to the contract, the first section is to develop a 18.50 km road. While the second section is to build another road of horse-shoe shaped, as a two road lane of 9.5 meters. The challenge for the company is to complete the project in the most critical weather and terrain condition.
MEIL that has built many landmark projects in the two telugu speaking states, including the Polavaram projects has become one of the fastest growing and successful infrastructure and engineering procurement and construction (EPC) companies in India, with the speed at which the it has been bagging contracts.
The Hyderabad based firms's revenue have nearly sky-rocketed from Rs 5200 in 2015 to Rs 20,300 crore in 2019. The company's net profits surged 6 times, to Rs 2800 Crore in 2019, turning MEIL India's largest construction and engineering company, while Larsen and Toubro (L & T).