IL&FS Engineering rallies 10% on Rs 268 cr order
Shares of IL&FS Engineering and Construction surged 10 per cent intraday after its subsidiary Maytas Infra Saudi Arabia bagged a contract from Saudi Binladin Group.
By ET Online | Updated:
MUMBAI: Shares of IL&FS Engineering and Construction surged 10 per cent intraday in a choppy market after its subsidiary Maytas Infra Saudi Arabia Co. (MISA) bagged a contract from Saudi Binladin Group.
MISA has received a Letter of Award (LoA) from Saudi Binladin Group for road drainage works for King Abdul-Aziz international airport development project-phase1, Jeddah in Kingdom of Saudi Arabia.
The total value of the contract is Saudi Riyals 166.89 million, which is equivalent to Rs 268 crores approximately.
The scope of work involves construction of road drainage works including excavation, steel reinforcement, concrete works, erection, and backfilling.
MISA has received a Letter of Award (LoA) from Saudi Binladin Group for road drainage works for King Abdul-Aziz international airport development project-phase1, Jeddah in Kingdom of Saudi Arabia.
The total value of the contract is Saudi Riyals 166.89 million, which is equivalent to Rs 268 crores approximately.
The scope of work involves construction of road drainage works including excavation, steel reinforcement, concrete works, erection, and backfilling.
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