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(05 Jul 2024, 12:03)

IRCON Intl edges higher after JV bags work order worth Rs 751 crore from RVNL

IRCON International added 3.17% to Rs 288.45 after the company announced that its joint venture IRCON-PARAS-PCM has been awarded a letter of award (LoA) from Rail Vikas Nigam for a project worth Rs 750.82 crore.


This contract covers the design, supply, installation, testing, and commissioning of a broad gauge ballastless track (BLT) system for a new 125 km railway line between Rishikesh and Karanprayag in Uttarakhand, India.

Additionally, the contract includes the supply of ballast and traditional track installation (excluding rails and sleepers) within a specific chainage (6+015 FLS to 125+200 FLS) of the project.

The said project has to be completed within a period of 42 months.

The share of IRCON, Paras Railtech (PARAS) and PCM Strescon Overseas Ventures (PCM) in the said JV is 60%, 25% and 15%, respectively.

Accordingly, IRCON share in the aforementioned project would be Rs 450.492 crore.

IRCON International is a public sector construction company, with emphasis on inf...

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