Breakthrough achieved today in CIDCO water tunnel project, Afcons offers to complete the project six months ahead of schedule

The first tunnel breakthrough was achieved today in the City and Industrial Development Corporation's (CIDCO) Augmentation of Hetawane Water Supply Scheme at Shaft-4 in Wahal village in PKG-1, executed by Afcons Infrastructure. This significant milestone marks the first tunnel breakthrough in CIDCO's history across all its projects.

The breakthrough took place in CIDCO's Water Tunnel Package-1, executed by Afcons Infrastructure Ltd. This package includes an 8.7 km treated water tunnel, of which 5.52 km of tunnelling work has already been completed.

(L) Mr Ganesh Deshmukh, Joint Managing Director, CIDCO, Mr Vijay Singhal, Vice Chairman & Managing Director, CIDCO, Mr Krishnamurthy Subramanian, Executive Chairman, Afcons Krishnamurthy Subramanian, Executive Chairman of Afcons, said, "I congratulate the project team, CIDCO and all those involved for achieving this milestone. Despite geological and logistical challenges, we have set national tunnelling records by adopting innovative practices. We will complete this project six months ahead of schedule while maintaining the highest safety and quality standards."

CIDCO has undertaken this ambitious project to meet the growing water demand in Navi Mumbai's developing regions. The scheme involves the construction of a 13.25-kilometre raw water tunnel and a 15.4-kilometre treated water tunnel. Upon completion, the project will enhance CIDCO's water supply capacity from the existing 120 million litres per day (MLD) to 270 MLD.

Vijay Singhal, Vice Chairman & Managing Director of CIDCO, remarked, "A few days ago, we created history with the first flight taking off from Navi Mumbai International Airport. Today, we have created another historic moment with this first water tunnel breakthrough. It is the first tunnel breakthrough in CIDCO's history and in this project as well."

"I must appreciate Afcons for its speed, quality of work, and for completing the tunnel breakthrough ahead of schedule. I also commend the Afcons Executive Chairman for committing to complete the remaining project six months ahead of schedule. I urge all other contractors not to seek any extensions and to complete their projects on time or ahead of schedule. The timely completion of the entire scheme will benefit the entire population of Navi Mumbai," added Vijay Singhal, Vice Chairman & Managing Director of CIDCO.

Earlier, in this project, Afcons set a new national tunnelling record by achieving 777 metres of tunnelling in a single month using the 3.2-metre-diameter Tunnel Boring Machine (TBM) Flamingo. Afcons surpassed its own previous record of 714 metres completed in a month, achieved in May this year.

Shares of Afcons Infrastructure Limited was last trading in BSE at Rs. 385.45 as compared to the previous close of Rs. 390.00. The total number of shares traded during the day was 25684 in over 1571 trades.

The stock hit an intraday high of Rs. 388.70 and intraday low of 382.25. The net turnover during the day was Rs. 9893755.00.

Source : Equity Bulls

Keywords

AfconsInfrastructure INE101I01011 CivilConstruction CIDCO WaterTunnelProject