Ircon emerges lowest bidder for two projects of NHAI and Chennai Metro Rail

Ircon emerges lowest bidder for projects worth ₹1,462 cr

Ircon International has emerged lowest bidder in the following projects:

1) Construction of eight-lane access controlled Expressway from 3 km-20 km (Shirsad to Akloli Section- SPUR of Vadodara Mumbai Expressway) in the State of Maharashtra on Hybrid Annuity Mode under Bhartmala Pariyojana (Phase 11- Package-XIV). The project is floated by National Highways Authority of India and value of the project is approximately Rs 1,124 crore (Bid Project Cost). The completion period of the project is two years.

This work will be undertaken & executed by a Special Purpose Vehicle ("Concessionaire" as a limited liability company) which shall be incorporated by IRCON as its Wholly-Owned Subsidiary Company.

2) Supply, Installation, Testing and Commissioning of Track Works of Standard Gauge including all associated works in underground and elevated section between Light House Station and Poonamalle Bypass Station and Poonamalle Depot The project is floated by Chennai Metro Rail and value of the project is approx. Rs 337.61 crore. The completion period of the project is approx. four years.

These works have been invited on competitive bidding basis. Letter of Award is yet to be issued by National Highways Authority of India and Chennai Metro Rail.

On Friday, the stock was trading 1% lower at Rs 45.75.