IVRCL surges over 13% on Rs 3,624 crore project in KSA

MUMBAI: Infrastructure company IVRCL surged over 13 per cent intraday after it bagged turnkey EPC project worth Rs 3,624 crore from the Kingdom of Saudi Arabia (KSA).

The stock ended over 9% up at Rs ​14.95.

IVRCL will also design, build mass housing for border guards along with install, test and commission ancillary buildings in three locations Dharan, Al Janoube, Al Qahmah and Asir region.

“A total of about 513 buildings is to be constructed for the three sites. The built-up area for each of these locations runs to approximately 53,88,780 square feet in total,” the company said in a filing to stock exchanges.

The EPC project construction of apartment buildings, villas, administrative, buildings, kinders, schools, masjid, recreation buildings, fire-fighting, buildings, clinic buildings, shopping centres, playgrounds, operation and maintenance buildings, warehouses, water treatment buildings, fuel stations and sewage treatment buildings.