(HCC) has secured a water infrastructure contract worth ₹2,917.6 crore from the City and Industrial Development Corporation of Maharashtra (CIDCO), the company disclosed to on Friday. The project involves building a 22.21 km raw water tunnel and a 250 MLD water treatment plant in Raigad district.
The contract has been awarded to the LCESPL-HCC Joint Venture, with HCC’s share of the execution pegged at approximately ₹1,100 crore. The tunnel will use Tunnel Boring Machine (TBM) technology to carry water from Kondhane Dam in Karjat to a proposed treatment plant at Village Mohope in Panvel.
Beyond construction, the scope covers design, supply, erection, testing, and commissioning of the water treatment plant. HCC will also be responsible for 15 years of operation and maintenance under a Design, Build and Operate (DBO) model, adding a long-term revenue stream to the contract’s value.
CIDCO has positioned the project as central to its long-term water supply strategy for the fast-growing nodes of Navi Mumbai and surrounding areas in Raigad.
HCC shares on the were trading at ₹19.89 as of 2.47 pm on Friday, down 3.49 per cent from the previous close of ₹20.61, against heavy sell-side pressure with 76 per cent of traded volume on the sell side. The stock has gained over 35 per cent in the past month but remains about 13 per cent lower year-on-year. Total traded value on the day stood at ₹106 crore, with a market capitalisation of approximately ₹5,210 crore.
HCC, which has been in infrastructure construction for nearly a century, operates across transportation, power, and water sectors.