IRCON’s JV Gets Rs. 750 Crore Order From RVNL
IRCON announced bagging the order on Thursday evening
IRCON International Limited, in a recent exchange filing, announced that it has received a Letter of Acceptance (LOA) for a project awarded by Rail Vikas Nigam Limited. This project is secured through a joint venture between IRCON, Paras Railtech Private Limited, and PCM Strescon Overseas Ventures.
The project encompasses the design, supply, installation, testing, and commissioning of broad gauge ballastless track (BLT), along with the supply of ballast and installation of the track (excluding the supply of rails and track sleepers). This project is part of the new broad gauge line connecting Rishikesh and Karanprayag in Uttarakhand, India, covering a distance of 125 km.
The total value of the order is approximately ₹750.82 crore, with an expected completion time of 42 months. In the joint venture, IRCON holds a 60% share, Paras Railtech Private Limited holds 25%, and PCM Strescon Overseas Ventures holds the remaining 15%.
