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Nila Infrastructures Ltd bags construction contract of Rs. 462.1 million from Dholera Industrial City Development Limited

Posted On: 2019-09-13 12:43:53

Nila Infrastructures Limited (the "Company") has secured a construction contract worth Rs. 462.1 million from Dholera Industrial City Development Limited (Dholera ICDL) for design and construction of "Service Area Building" in Dholera Special Investment Region (Dholera SIR). The contract is on EPC basis with specific duration of 545 days.

Service area comprises the designated area to house equipment typically required for city services, ICT and power services within a single roof. The Service Area building shall adequately house the electrical, mechanical and ICT equipment required to provide reliable service throughout the Dholera Activation Area. It will include explicit provision for intended Cellular towers, distribution transformer, power main distribution board, Feeder pillars for street lights and surveillance cameras and ICT Tier-1 and Tier-2 facilities. This will make the walkways free from all the sophisticated equipment planned and will provide pedestrians continuous space for commuting.

The Project is a prominent part of the Government of India's ambitious plan for comprehensive development of Delhi Mumbai Industrial Corridor (DMIC) along the accurate alignment of proposed Multi-modal High Axle Load Dedicated Freight Corridor between Delhi and Mumbai, traversing an overall length of 1,483 km. National Industrial Corridor Development and Implementation Trust (NICDIT) and Dholera Special Investment Region Development Authority (DSIRDA) formed a SPV as Dholera ICDL for independent implementation of intended projects. The Dholera SIR is functionally the first investment region to be implemented under DMIC project.

On the occasion Mr. Deep Vadodaria, COO of the Company passionately commented: "We are delighted to secure our first order from Dholera ICDL for its critical infrastructure. With this, we further our continual quest to be the first-mover in the uncharted territories. As a leading modern city, Dholera will assuredly be a Greenfield industrial hub located approximately 100 km south of Ahmedabad in Gujarat. It is devised to create an economically and socially balanced new-age city with world class infrastructure and highest quality-of-life standards and sustainability in the urban development context.

This positively reinforces the Company's Vision to contribute to the economic prosperity and sustainable growth through active participation in projects of national importance; and Mission to impeccably execute such projects that are beneficial to the society-at-large. As a deliberate strategy, worthy addition of this shall further de-risk the revenue as well as client concentration risks. This is only a modest beginning, and economic outlook of such potential opportunities in short-to-long term appears absolutely promising as an area of about 920 sq km encompassing 22 villages of Dholera Taluka of Ahmedabad District are planned for sustainable development vide this ambitious initiative. We are confident to accurately execute and deliver this project within stipulated parameters. This also enhances visibility of our existing confirmed unexecuted order-book."

Shares of NILA INFRASTRUCTURES LTD. was last trading in BSE at Rs.4.96 as compared to the previous close of Rs. 4.74. The total number of shares traded during the day was 92353 in over 133 trades.

The stock hit an intraday high of Rs. 5.49 and intraday low of 4.81. The net turnover during the day was Rs. 463130.

Source: Equity Bulls

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