Share price of Reliance Infrastructure added 3 percent intraday Monday on winning EPC contract from Ministry of Road Transport and Highways Project.
The company won an engineering, procurement and construction (EPC) contract for Rs 441 crore from Ministry of Road Transport and Highways (MoRTH) for the rehabilitation and upgrading of National Highway-66 in the Kashedi Ghat section which includes execution of three by three lane twin tunnels of total length 3.44 km, company said in release.
The company had bid for the project in joint venture with CAI, Ukraine.
In addition to the twin tunnels, the contract also includes construction of highway with paved shoulders and viaducts for a length of 7.2 Km.
The said project is to be completed in 30 months and thereafter, Reliance JV will operate and maintain the project for 48 months.
Arun Gupta, CEO, Reliance Infrastructure EPC, said, “This project involving twin tunnels will add to our existing credentials of executing complex projects in record time and at competitive cost. We will leverage our experience of execution of large infrastructure road projects."
At 12:27 hrs Reliance Infrastructure was quoting at Rs 437.25, up Rs 10.50, or 2.46 percent on the BSE.
Posted by Rakesh Patil
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