Ircon International wins an order from Sri Lanka Railways. Know how much it is worth

The contract involves upgradation of the northern railway line from Maho-Omanthai in Sri Lanka, the PSU said in an official statement

New Delhi: Government-run engineering and construction firm Ircon International Ltd (Ircon) has bagged an order worth Rs 635 crore from Sri Lanka Railways, an official statement said on Thursday.

"The company has been awarded an international railway contract worth approximately USD 91.27 million equivalent to Rs 635 crore from Sri Lanka Railways. This is an item rate contract which is financed through Exim Bank of India as per Indian lines of credit," Ircon said.

What does the contract involve?

The contract involves upgradation of the northern railway line from Maho-Omanthai in Sri Lanka, the public sector undertaking (PSU) said in the statement. Ircon will be responsible for upgrading single line broad gauge track from Maho-Omantha, of around 128 km length, including associated infrastructure works, it said.

"The project is to rebuild the rail track to make it capable of carrying trains at speeds of 120 kmph and with heavier loads and to ensure efficient, safe, and comfortable transport service for passengers and freight," Ircon said.

Ircon is an engineering and construction company under the aegis of the Ministry of Railways and has a presence in several countries, including Malaysia, Nepal, Mozambique, Ethiopia, Afghanistan, the UK, Algeria and Sri Lanka.