The 46 contracts worth Rs 11,391 crore awarded in May 2011, indicated the overall slowdown seen in project investment activities in the recent months. In the same month of the preceding year, 79 contracts worth Rs 21,916 crore were bagged.

The overall slackness was not limited to Indian shores only. In May 2011, Indian companies managed to bag only four foreign contracts. IL&FS Engineering & Construction Company secured a Rs 450-crore contract from Prime Star Energy FZE for development, operations and maintenance of a terminal for oil and oil products of a storage tank terminal at Fujairah, UAE.

Electricity sector, which always was on the forefront in terms of contracts awarded, saw tardiness catching up in May 2011. Only five contracts worth Rs 4,384.18 crore were finalised. A Rs 3,500-crore contract bagged by L&T from PPN Power Generating Company was the month's largest. The scope of work includes design, detailed engineering, supply, installation and commissioning of the 1,080 MW gas based power plant in Nagapattinam, Tamil Nadu. Lanco Solar, in partnership with Juwi Solar GmbH, won a contract valued at Rs 884.18 crore from the Maharashtra State Power Generation Company for setting up a 75 MW photovoltaic solar power project at Dhule in Maharashtra.

Among the other sectors, Mineral Fuels, Petroleum Products [Refinery] and Irrigation sectors saw some major contracts being awarded. The Gujarat State Petroleum Corporation awarded a Rs 1,450 crore contract to L&T for offshore process cum living quarters platform project to meet its challenging target of production of hydrocarbons from the KG Basin, off the east coast of India. Samsung Engineering Company was given a contract valued at Rs 1,012 crore for building a high-density polyethylene plant with an annual production capacity of 3,40,000 tonne at the SEZ in Dahej, Gujarat. The Sardar Sarovar Narmada Nigam gave away three contracts in the Irrigation sector. ITT Corporation India in JV with Megha Engineering & Infrastructures bagged a Rs 333-crore project for providing two water pumping stations for Kachchh branch canal lift irrigation project in Gujarat. A Rs 298-crore contract was awarded to Hindustan Construction Company for the construction of canal earthwork, lining, structures & service roads of the distributaries and minors of the canal including maintenance and operation for five years in Surendranagar. Also, IVRCL Infrastructures & Projects was given a contract valued at Rs 294.74 crore for Phase I of pumping station-I at chainage 100.970 km for Kachchh branch canal.