H G Infra Engineering Limited (H G Infra) has been declared the L1 bidder by the Department of Skill, Employment and Entrepreneurship of the Government of Rajasthan for the upgradation of Industrial Training Institutes (ITIs) under the National Scheme for ITI Upgradation for the Bhiwadi cluster. The declaration was communicated to stock exchanges pursuant to the SEBI listing obligations and disclosure requirements. The transaction was presented as a public private partnership and the award was identified as a domestic contract.

The contract is to be executed over a 10 year period and carries a share of 17.10 per cent of the estimated cost, which amounts to Rs 2.41 billion (Rs 2.41 bn). The disclosure describes the nature of the engagement as public private partnership and specifies that the contracting authority is the Department of Skill, Employment and Entrepreneurship, Government of Rajasthan. The company recorded the broad terms and the percentage share of the estimated cost in the regulatory filing.

The announcement states that neither the promoter nor promoter group has any interest in the contracting entity and that the order does not constitute a related party transaction. The filing further indicated that related party provisions are not applicable and that the matter has been disclosed for regulatory compliance. The company secretary and compliance officer signed the communication to the exchanges.

The company noted that the information has been provided for records and regulatory requirements and that further particulars have been enclosed in the annexure to the filing. The award for ITI upgradation in the Bhiwadi cluster will be overseen under the stipulated contract terms and timelines and recorded in the company's project schedule for the 10 year execution period.