H.G. Infra Engineering Ltd. on Thursday received a letter from Central Railway for an order worth Rs 716.11 crore. The project is to be completed in the time frame of 30 months.
The Central Railway issued a letter for the appointment of the company for the project on Sept. 4, according to an exchange filing by the company.
The project constitutes the construction of a new broad-gauge line between Dhule (Borvihir) and the Nardana section of the Central Railway. The project to be done through EPC mode spreads across an area of 49.45 km.
Gauge is the distance between the two tracks on any railway route and a broad gauge, also known as a wide gauge or large line, refers to railway gauges with a track distance of 1,676 mm (5 ft 6 in).
HG Infra Engineering earlier this month has received a road project valued at Rs 781 crore from the Ministry of Road Transport and Highways. The project involves upgrading an existing six-lane road, including an elevated corridor from Narol Junction to Sarkhej Junction in Gujarat on the National Highway 47.
The shares of HG Infra Engineering rose as much as 2.39% during the day to Rs 1,544 apiece on the NSE. The stock closed 0.41% lower at Rs 1,501.70 per share. This compares with a 0.06% advance in the benchmark Nifty 50. It has fallen 59.41% in the last 12 months and 77% year-to-date.
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