Petron Engineering Construction announced that the company has received Letter of Intent (LoI) from JBF Petrochemicals, Mangalore for an approximately contract value of Rs 1.96 billion, plus service tax.

The company received order for composite works comprising civil, structural, underground piping, buildings, mechanical piping, insulation, painting, electrical & instrumentation works for its JBF PTA OSBL Project at Mangalore

Shares of the company declined Rs 0.70, or 0.83%, to settle at Rs 83.30 at the BSE (Monday).