New Delhi: H.G. Infra Engineering Ltd has been declared the lowest (L1) bidder by the Department of Skill, Employment & Entrepreneurship, Government of Rajasthan, for upgrading Industrial Training Institutes (ITIs) in the Bhiwadi cluster under the National Scheme for ITI Upgradation.
The company informed stock exchanges through a regulatory filing on Monday.
Project To Be Executed Under PPP Model
The project will be implemented under the Public Private Partnership (PPP) model. According to the filing, the contract will have a tenure of 10 years, giving the company long-term visibility in the education infrastructure segment.
The project aims to improve the quality of technical education and skill development by upgrading selected Industrial Training Institutes in the Bhiwadi cluster. The work is part of the Central Government's National Scheme for ITI Upgradation.
17.10 percent Share In Rs 241 Crore Project Cost
H.G. Infra said its share in the estimated project cost will be 17.10 percent of Rs 241 crore. However, the company did not disclose the exact contract value that will accrue to it under the arrangement.
The order has been awarded by a domestic government department, and the company confirmed that neither its promoters nor promoter group companies have any interest in the awarding entity. It also stated that the contract is not a related-party transaction.
Focus On Infrastructure Expansion
The latest win further strengthens H.G. Infra's presence in public infrastructure projects. The company has been expanding its portfolio across highways, railways and other government-led infrastructure programmes.
The addition of an education infrastructure project also broadens its project mix and supports long-term order visibility.
Disclaimer: This report is based on the company's stock exchange filing and does not constitute investment advice or a recommendation to buy.
