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Salasar Techno Engineering Ltd. (STEL), a steel structure manufacturer and EPC infrastructure company, gained over 4 percent in intraday trade on Wednesday after bagging an order worth Rs 143 crore from Nepal Electricity Authority.

The company said that this was its first-ever EPC (engineering, procurement, construction) order received from a foreign country.

Salasar Techno said that it has secured the letter of intent (LOI) for procurement of material equipment, associated accessories, and necessary installation services including design, erection, testing, and commissioning of 33/11 KV Substations and 33 KV, 11 KV, 400 V lines and distribution system networks in Dang, Rukum East and Baitadi Districts of Nepal.

The above order will be executed in the next 24 months i.e. over the financial years 2023-2025.

Last month, Salasar Techno announced that the company had received two orders worth Rs 750 crore from the state-owned Pashchimanchal Vidyut Vitran Nigam Ltd. (PVVNL).

The orders included the development of distribution infrastructure for loss reduction in Bulandshahr, Meerut, Hapur, and Baghpat districts of Uttar Pradesh.

Shares of Salasar Techno Engineering ended nearly 5 percent higher at Rs 52.05 on Wednesday.

(Edited by : Rukmani Krishna)