The project has been awarded on an EPC basis and involves demolition and redevelopment of the RBI Quarters. As per the company’s filing, the work is to be completed within 36 months from the date of receipt of the order. The contract has been awarded by a domestic entity, and the order value includes GST.
Also Read: Vascon Engineers bags ₹116 crore order from Ahmedabad Municipal Corporation
Last month, Vascon Engineers said it had received a Letter of Intent worth ₹131.58 crore (excluding GST) from Reliance Industries Ltd for construction works at its Jamnagar expansion project. The order is for the construction of four G+12 FLL-type buildings for Sector-3 at the RG Expansion Project, Jamnagar. The contract has been awarded on a Bill of Quantities (BOQ) basis.”We are pleased to inform that Vascon Engineers Limited has received a Letter of Intent amounting to ₹131.58 Crore [One Hundred & Thirty One Crore Point Fifty Eight Lakh (excluding GST)] from Reliance Industries Limited for “construction of 04 Nos G+12 FLL Type Buildings for Sector-3 at RG Expansion Jamnagar”. The work has been awarded on a “Bill of quantities (BOQ) basis,” according to a stock exchange filing.
The work is to be completed within 19 months from the date of receipt of the order. The company said the order has been awarded by a domestic entity, and the nature of the contract is domestic.
Also Read: Vascon Engineers shares fall 4% after steep revenue drop, margins shrink in Q4
Shares of Vascon Engineers Ltd ended at ₹33.49, down by ₹1.59, or 4.98%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
