Rs 31,543 Crore Order Book: Advanced Heavy Machinery Manufacturer Secures Rs 7,544 Crore Europe Railway Project
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Afcons Infrastructure informed exchanges that it has been selected as the most suitable bidder for a railway rehabilitation and construction project in Croatia valued at €677.07 million, equivalent to around Rs 7,544 crore.
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Indian equity markets ended lower on Monday, with the benchmark Nifty 50 index declining 1.49 per cent to close at 23,815.85. Broader market weakness also weighed on infrastructure and Construction stocks during the session. In this segment, Afcons Infrastructure remained in focus after the company announced a major international Railway project development. On Monday, Afcons Infrastructure share price ended 4.12 per cent lower at Rs 326.65.
Afcons Receives Croatia Railway Project
Afcons Infrastructure informed exchanges that the company has received intimation from the client regarding selection of its bid for rehabilitation and construction of a railway line project in Croatia.
According to the company, the project involves reconstruction of the existing railway track and construction of a second railway line along with overhead electrification, signalling and telecommunication works. The project is valued at €677.07 million excluding Taxes, equivalent to approximately Rs 7,544 crore.
The company stated that this would be its largest international order to date and marks Afcons Infrastructure’s entry into the European infrastructure market.
Afcons Infrastructure Management Commentary
Krishnamurthy Subramanian, Executive Chairman of Afcons Infrastructure, said, “This milestone project marks a significant step in Afcons’ global journey, with an entry into Europe. It reflects our ability to deliver complex, large-scale infrastructure solutions across geographies.”
S Paramasivan, Managing Director of Afcons Infrastructure, stated that the project contributes to the vision of “Making for the World” and strengthens the company’s global infrastructure execution capabilities.
About Afcons Infrastructure
Afcons Infrastructure Ltd is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group. The company executes engineering, procurement and construction projects across transportation, marine, industrial, oil & gas, hydro and urban infrastructure segments. The company has executed multiple domestic and international infrastructure projects and is ranked among the top international contractors globally as per the latest ENR survey.
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Disclaimer: This article is for informational purposes only and not investment advice