Know about major projects backed by Megha Engineering Infrastructure

Megha Engineering Infrastructure Limited is the second largest company to purchase electoral bonds. It has purchased electoral bonds worth Rs 980 crore. Apart from this, Megha Infrastructure's subsidiary Western UP Power Transmission Company Limited has purchased additional electoral bonds worth Rs 220 crore.

In May 2023, this company had won the Thane Borivali Twin Tunnel Project worth Rs 14,400 crore from the Maharashtra government by beating L&T. MEIL is the main contractor of the 38,000 crores Kaleshwaram Lift Irrigation project in Telangana. CAG has recently pointed out to large scale irregularities in this project.

Recently in Aug 2023 Adani Energy Solutions, formerly known as Adani Transmission, announced the acquisition of an under-development transmission project from Megha Engineering & Infrastructures for an undisclosed amount.

Who owns Megha Engineering Infrastructure?

The company has 10 directors and 2 reported key management personnel.

The son of a farmer, P.P. Reddy, established a company called Megha Engineering Enterprises in 1989 to supply small pipes for municipalities. Before long, he transitioned into constructing substantial infrastructure projects like dams, natural gas distribution networks, power plants, and roads.

In 2006, the company underwent a rebranding process and took on a new name - Megha Engineering & Infrastructures. Reddy's nephew, P.V. Krishna Reddy, who had joined him in 1991, now manages the day-to-day operations of the company.

The company's board is served by its longest-serving directors, Pitchi Reddy Pamireddy, Rama Reddy Pamireddy, and Venkata Krishna Reddy Puritipati, who assumed their roles on June 7, 2006.

Of these, Venkata Krishna Reddy Puritipati has a particularly broad organizational reach, holding directorships at 28 other companies. Overall, through its directors, Megha Engineering & Infrastructures has connections to 60 additional companies.

The company's influence extends overseas as well, with ongoing projects in Zambia, Tanzania, Bangladesh, and Kuwait.

After the release of the list of electoral bonds, the name of Megha Infrastructure is in discussion.

P.V. Krishna Reddy serves as the managing director of the privately owned Megha Engineering and Infrastructure. As of now, his net worth stands at a staggering 2 billion USD. His net worth, which had been in a decline since 2022, experienced a substantial surge in 2023. Remarkably, from 1.3 billion, his net worth practically doubled to 2 billion within that year.

TV9 network is also owned by Megha Infrastructure, and its associate companies. As per The Times of India article, 2018 in a deal they brought 80% stakes in the network.

Landmark Projects of Megha Infrastructure

Here is the list of projects

• WUPPTCL Project
• 10 MW Canal-top Project
• 50 MW Solar Thermal Project, Anantapur
• Narmada Kshipra Simhastha Link Project
• Handri-Niva Sujala Sravanthi Project
• Godavari Drinking Water Supply Scheme Project (GDWSS)
• Zojila Tunnel
• Char Dham Rail Tunnel
• MEIL Indigenous Rigs
• Polavaram
• Kaleshwaram

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