IVRCL Infra secures orders worth Rs 1145.88 Crores in JV with Unity Infra

IVRCL Infrastructures & Projects Limited (IVRCL) in joint venture with M/s Unity Infraprojects Ltd, bagged orders worth Rs 1145.88 crores, under International Competitive Bidding.

The order is for construction of tunnel from Kapurbawadi to Bhandup complex (section b). The contract is for construction of tunnel with tunnel boring machine (TBM) and RCC lining of 8.3 Km length from Kapurbawadi to Bhandup Complex - awarded by Brihan Mumbai Mahanagar Palika, Municipal Corporation of Brihanmumbai (MCBM). The contract is awarded to "Unity - IVRCL JV" wherein IVRCL holds 50% share.

This project forms an important part of "Mumbai Water Supply Project". The project includes "Construction of Ilet shaft at Kapurbawdi, Outlet shaft at Bhandup Complex; construction of 5.5m finished dia, constructing steel lining to tunnel at specified streches of tunnel, all related civil works, Interconnection to existing pipelines, testing and commissioning of the tunnel, steel bridge for pipeline, etc.

The scope includes interconnection of Upper Vaitarna and Diversion Maini to the manifold at Kapurbawadi shaft Manifold at Bhandup shaft for connections to the existing treatment plant, 900 Mld treatment plant under construction and provision for connecting to future Gargai and Panjal treatment plants.

The total completion period is 60 months.

The stock was trading at Rs.345.90, up by Rs.7.45 or 2.20%. The stock hit an intraday high of Rs.350 and low of Rs.339.20.

The total traded quantity was 116153 compared to 2 week average of 340245.

Source : Equity Bulls

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