Infrastructure firm IVRCL bags contracts worth Rs 4,081 crore

MUMBAI: Infrastructure firm IVRCL today said it has bagged contracts worth Rs 4,081 crore. In a statement, the company said it has bagged three EPC (engineering, procurement and construction) contracts from NTPC worth Rs 869 crore, while its subsidiary IVRCL Assets and Holding Ltd has emerged lowest bidder for two national highway projects from the National Highways Authority of India (NHAI).

The first highway project, bagged by IVRCL Assets and Holding Ltd, is upgradation of the four-lane national highway (NH-5) between Gundugolonu and Rajamundry section in Andhra Pradesh into six-lanes on a toll-basis.

"The total project cost of the project is Rs 1,617 crore (as per NHAI)," the company said.

The other highway project, where IVRCL Assets and Holding Ltd has emerged as lowest bidder, is four-laning of Patiala to Bhatinda section of NH-64 and would be awarded by PWD (B&R) department of Punjab government on a toll basis.

"The total project cost of the project is Rs 1,586 crore (as per PWD, Punjab government)," it said.

Both the highway projects have to be constructed within 30 months from the appointed date and the concession period for the two projects is 24 years.

"With the receipt of above mentioned highway projects, the cumulative value of the project stands at Rs 17,789 crore," it added.

Besides, the company has also bagged orders worth Rs 869 crore from NTPC for providing EPC services for the power major's three projects at Meja in Uttar Pradesh and at Solapur and Mouda in Maharashtra.

Cumulatively, the three projects will have a power generation capacity of 3,960 MW, post completion.

"With above orders, IVRCL Ltd's order book stands at Rs 25,493 crore," the company said.

Shares of the IVRCL closed today at Rs 69.65 apiece on the BSE, up 5.13 per cent from their previous close.