Ircon wins ₹1,436-cr road project in M’rashtra

IRCON International recently announced that it has emerged as the lowest bidder for construction of eight-lane access-controlled expressway starting from Bhoj to Morbe section-SPUR of Vadodra Mumbai expressway in Maharashtra involving ₹1436 crore investment. The project will be executed on the Hybrid Annuity Model under Bharatmala Pariyojana. The tender for the project was floated by NHAI on competitive bidding and the completion period of the project is two and half years. This work will be undertaken & executed by a Special Purpose Vehicle which shall be incorporated by IRCON as its wholly-owned subsidiary.

In a separate announcement, IRCON said it entered into a share subscription and shareholders' agreement with Ayana Renewable Power for the execution of the project of setting-up a 500 MW solar power plant through a joint venture company which will be incorporated by IRCON and Ayana. IRCON International is an engineering and construction company, specialized in transport infrastructure and is wholly owned by the Ministry of Railways.