Rail Vikas Nigam Limited (RVNL) has awarded a Letter of Acceptance to the joint venture between IRCON International Ltd. and JPWIPL for executing civil works on a new broad-gauge railway line between Pipaliya Nankar (excluding) and Budni (including), in Madhya Pradesh. The project falls under the Indore–Budni section of the West Central Railway zone and is valued at Rs 755.78 crore.

The contract’s scope includes construction of the roadbed, minor bridges, buildings, installation of railway tracks (excluding rails, sleepers, and thick web switches), as well as other civil engineering and general electrical works. The work covers the chainage between 129.000 km and 198.000 km in the Bhopal Division.

The project is to be executed over 36 months, followed by a six-month defect liability period to ensure quality and compliance.

The total contract value includes GST. IRCON holds a 70% equity stake, equivalent to Rs 529.04 crore, while JPWIPL will handle the remaining 30%, amounting to Rs 226.74 crore.

In addition to this, IRCON has secured two more contracts worth Rs 1,113.7 crore from the Mumbai Metropolitan Region Development Authority (MMRDA) for electrical work on Mumbai Metro Lines 5 and 6, further cementing its position in India’s infrastructure space.