Friday, August 12, 2022

IRCON emerges as the lowest bidder in NHAI & Chennai Metro projects

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New Delhi: Ircon International Limited (IRCON), a Miniratna PSU under the Ministry Railways, has emerged as the lowest bidder for the projects floated by the National Highways Authority of India (NHAI) and Chennai Metro Rail Limited (CMRL). In a regulatory filing to the stock exchanges, IRCON has informed that it has emerged as the lowest bidder for the projects worth Rs 1,461 crores (approx.) from NHAI and Chennai Metro. This information has been shared by the Railways PSU in a regulatory filing to the stock exchanges on Friday.

According to the company, the first project floated by NHAI is for the construction of eight-lane access controlled expressway from Maharashtra Km 3.000 to Km 20.200 (Shirsad to Akloli Section- SPUR of Vadodara Mumbai Expressway) in the state of on Hybrid Annuity Mode under Bhartmala Pariyojana (Phase 11- Package-XIV). The value of the project is approx. Rs 1,124 crore (bid project cost) and the completion period is two years.

“This work will be undertaken and executed by a special purpose vehicle (Concessionaire as a limited liability company) which shall be incorporated by IRCON as its wholly-owned subsidiary company,” IRCON informed in the mandatory filing.

Further, the second project, floated by Chennai Metro is for the supply, installation, testing and commissioning of track works of standard gauge including all associated works in the underground and elevated sections between Light House Station and Poonamalle Bypass Station and Poonamalle Depot. The value of the project is approx Rs 337.61 crore and the completion period is approx. four years.

These works have been invited on a competitive bidding basis. However, the letter of awards (LoAs) is yet to be issued by NHAI and Chennai Metro.

IRCON is an engineering and construction organisation, specialized in transport infrastructure. The PSU was established in 1976, by the government under the Indian Companies Act 1956. IRCON was registered as the Indian Railway Construction International Ltd., a wholly (100%) owned entity of the Ministry of Railways. Its primary charter was the construction of railway projects in India and abroad. 

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