IRCON Secures Rs 1.87 Billion in Major Mumbai Metro and Rail Contracts

22 Jul 2025 CW Team

IRCON received a Letter of Award from RVNL for a railway infrastructure project valued at Rs 756 million (inclusive of GST) in Madhya Pradesh. The contract was awarded to the IRCON–JPWIPL joint venture, where IRCON holds a 70 per cent stake. IRCON’s share amounts to Rs 529 million, including GST.

The project involves construction of roadbeds, minor bridges, buildings, track installation (excluding supply of rails, sleepers and thick web switches), as well as civil and electrical works for a new broad-gauge line between Pipaliya Nankar (excluding) and Budni (including) in the Indore–Budni section of the West Central Railway. The contract will be executed over 36 months with an additional six-month defect liability period.

Separately, MMRDA awarded IRCON the CA-239 contract for Mumbai Metro Line-5, Package-2. The scope includes design, manufacture, supply, installation, integration, testing, and commissioning of a 220 kV receiving substation, cabling works (220 kV, 33 kV, and 25 kV), a full 25 kV overhead catenary system with switching stations, auxiliary power distribution, SCADA system, electrical and mechanical works, as well as lift and escalator installation.

This contract is valued at Rs 471 million and €2.84 million, inclusive of all taxes except GST and customs duty. The build period is 108 weeks, followed by two years of defect liability and five years of comprehensive maintenance.

In another MMRDA contract, IRCON was awarded CA-233 for Mumbai Metro Line-6, Package-2. This involves power supply and traction, electrical and mechanical works, lifts, and escalators, with five years of maintenance following a two-year defect liability period. The contract value is Rs 642 million and €2.79 million, inclusive of applicable levies, excluding GST and customs duty. The project completion timeline is 104 weeks.

Shares of IRCON International Ltd closed at Rs 187, down Rs 2.75 or 1.45 per cent on the Bombay Stock Exchange.

Image source:https://metrorailnews.in/

State-owned engineering firm IRCON International Limited announced on Friday, 18 July, that it has secured three major infrastructure contracts worth over Rs 1.87 billion. The awards include two contracts for Mumbai Metro projects from the Mumbai Metropolitan Region Development Authority (MMRDA) and one railway project in Madhya Pradesh from Rail Vikas Nigam Limited (RVNL).IRCON received a Letter of Award from RVNL for a railway infrastructure project valued at Rs 756 million (inclusive of GST) in Madhya Pradesh. The contract was awarded to the IRCON–JPWIPL joint venture, where IRCON holds a 70 per cent stake. IRCON’s share amounts to Rs 529 million, including GST.The project involves construction of roadbeds, minor bridges, buildings, track installation (excluding supply of rails, sleepers and thick web switches), as well as civil and electrical works for a new broad-gauge line between Pipaliya Nankar (excluding) and Budni (including) in the Indore–Budni section of the West Central Railway. The contract will be executed over 36 months with an additional six-month defect liability period.Separately, MMRDA awarded IRCON the CA-239 contract for Mumbai Metro Line-5, Package-2. The scope includes design, manufacture, supply, installation, integration, testing, and commissioning of a 220 kV receiving substation, cabling works (220 kV, 33 kV, and 25 kV), a full 25 kV overhead catenary system with switching stations, auxiliary power distribution, SCADA system, electrical and mechanical works, as well as lift and escalator installation.This contract is valued at Rs 471 million and €2.84 million, inclusive of all taxes except GST and customs duty. The build period is 108 weeks, followed by two years of defect liability and five years of comprehensive maintenance.In another MMRDA contract, IRCON was awarded CA-233 for Mumbai Metro Line-6, Package-2. This involves power supply and traction, electrical and mechanical works, lifts, and escalators, with five years of maintenance following a two-year defect liability period. The contract value is Rs 642 million and €2.79 million, inclusive of applicable levies, excluding GST and customs duty. The project completion timeline is 104 weeks.Shares of IRCON International Ltd closed at Rs 187, down Rs 2.75 or 1.45 per cent on the Bombay Stock Exchange.Image source:https://metrorailnews.in/

Infrastructure Energy

09 Jan 2026

Rajesh Power Secures 65 MW BESS Project in Gujarat

Rajesh Power Services has recently secured a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project in Gujarat, marking its entry into utility-scale energy storage. The company received a Letter of Intent from Gujarat Urja Vikas Nigam for the project, which will be developed at Virpore under a tariff-based competitive bidding mechanism supported by Viability Gap Funding through the Power System Development Fund.The project is expected to be executed within 18 months from the signing of the Battery Energy Storage Purchase Agreement. With the ability to supply 65 MW of power for..

Infrastructure Energy

09 Jan 2026

ONGC Forms JV with MOL for Ethane Shipping Operations

Oil and Natural Gas Corporation (Oil and Natural Gas Corporation) has recently entered the ethane shipping segment through joint venture agreements with M/s Mitsui O.S.K. Lines Ltd (Mitsui O.S.K. Lines), Japan. The agreements involve equity participation in two joint venture entities—Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited—registered at GIFT City, Gandhinagar.Under the arrangement, ONGC will subscribe to 2,00,000 equity shares of Rs 100 each in both entities, resulting in a 50 per cent equity holding in each joint venture, with the remaining stake ..

Infrastructure Energy

09 Jan 2026

Waaree Energy Storage Raises Rs 10.03 Billio for 20 GWh Plant

Waaree Energy Storage Solutions Private, a subsidiary of Waaree Energies, has recently completed a strategic fund raise of around Rs 10.03 billion from a group of strategic investors, including family offices, high-net-worth individuals and institutional backers. The funding strengthens the company’s position in India’s rapidly expanding energy storage ecosystem.The capital raise forms part of an announced capital expenditure programme of nearly Rs 100 billion for setting up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility. The plant will manufacture high-performa..