Ircon International Ltd. has bagged a contract from Rail Vikas Nigam Ltd. for the “Design, supply, installation, testing and commissioning of broad gauge ballastless track" for the sum of roughly Rs 750 crore, according to an exchange filing on the BSE.
This will take place in Uttarakhand to connect the New BG line between Rishikesh and Karanprayag, which extends for 125 km.
The contract also includes the supply of ballast and installation of track (excluding supply of rails and track sleepers).
It will be fulfilled through a joint venture of IRCON-Paras Railtech Pvt. and PCM Strescon Overseas Ventures Ltd. in the ratio of 60:25:15, respectively.
It is to be completed within a period of 42 months.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
