The contract from Karnataka Neeravari Nigam Ltd is for diversion of flood water from Sakleshpur to Kolar/ Chikkaballpur (East) under Yettinahole diversion project package IV, the company said in a statement.
"HCC's share in the JV is 50 per cent. The project will be completed in 36 months," it said.
Karnataka Neeravari Nigam is the state nodal agency for implementing irrigation projects.
Yettinahole is tributary of Netravati river and the enterprise plans to divert flood water from Sakleshpur West to drought prone areas of Chikkaballarput and Kolar districts.
Shares of the company closed at Rs 173.47 apiece, down 0.82 per cent from the previous close on BSE.
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