New Delhi: Ircon International Limited (IRCON) on Friday informed that it has received a Letter of Acceptance (LoA) from North Eastern Electric Power Corporation Limited (NEEPCO) for the execution of civil works related to the Tato-I Hydro Electric Project in Arunachal Pradesh.
The information has been shared by the railway PSU in a regulatory filing to the stock exchanges on Friday.
The total value of the contract is Rs 458.14 crore (inclusive of all applicable taxes and duties). The project involves the construction of key civil infrastructure under Package-I, including Headworks, Head Race Channel, Head Race Pipe, Intake, Headrace Tunnel, Surge Shaft, Pressure Shaft, Valve House, Powerhouse, and other allied and infrastructure works.
The contract is domestic in nature and is scheduled to be completed within a period of 45 months.
This new order is expected to significantly strengthen Ircon's presence in the hydroelectric infrastructure segment, particularly in the strategically important North-Eastern region of India. The Tato-I Hydro Electric Project forms part of NEEPCO’s ongoing efforts to boost renewable energy capacity in the region.
The Railways PSU has also confirmed that the contract does not fall under related party transactions and that neither the promoter group nor group companies have any vested interest in the awarding entity.
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