IRCON lowest bidder for two NHAI projects and Chennai metro rail

IRCON International has emerged as the lowest bidder for two NHAI projects and Chennai metro rail projects. Under the Bhartmala Pariyojana, Maharashtra will construct an eight-lane access controlled expressway from 3 km to 20 km Shirsad to Akloli Section- SPUR of the Vadodara Mumbai Expressway (Phase 11- Package-XIV). The project is valued at approximately Rs 1,124 crore and is being floated by the National Highways Authority of India (NHAI) bid project cost. The project has a two-year deadline for completion. This work will be carried out by a Special Purpose Vehicle (SPV) Concessionaire as a limited liability company that will be incorporated as an IRCON Wholly-Owned Subsidiary Company. This work will be done by a Special Purpose Vehicle Concessionaire, which will be a limited liability company incorporated by IRCON as a wholly-owned subsidiary company. Supply, installation, testing, and commissioning of standard gauge track works, as well as all associated works in the underground and elevated sections between LightHouse Station and Poonamallee Bypass Station and Poonamalle Depot. The project is valued at Rs 337.61 crore and is being floated by Chennai Metro Rail. The project will take about four years to complete. These works were solicited through a competitive bidding process. The National Highways Authority of India and Chennai Metro Rail have yet to issue Letters of Award. The stock was trading at Rs 45.75 on Friday, down 1%. Image Source