Man Infraconstruction Limited has received Letter of Acceptance (LoA) for Rs. 680 Crores from Bharat Mumbai Container Terminal Private Limited (BMCTPL) for execution of Phase 2 Infrastructure Works at Fourth Container Terminal at Jawaharlal Nehru Port (JNPT), Navi Mumbai, Maharashtra within time-frame of 2.5 years, the company announced through an exchange filing.
BMCTPL is a subsidiary of the PSA International, a leading Global Port Group headquartered in Singapore. PSA is working with JNPT to develop this Fourth Container Terminal to cater to the increasing demands for container handling capacity and facilitate maritime trade in the Country.
Commenting on this development, Mr. Manan P. Shah, Managing Director said, "Man Infra Group has successfully executed Phase 1 Infra Works for BMCTPL within a challenging time-frame of 22 months instilling its added confidence within our group. This achievement has significantly bolstered BMCTPL's confidence in the exceptional work quality and capability of our company. Our commitment to excellence and delivering exceptional standards has been acknowledged, paving the way for this renewed opportunity.
We are once again delighted to win this prestigious Letter of Acceptance (LoA) and the commencement of Phase 2 Infra Works signifies another notable milestone in our association with BMCTPL. With both the responsibility of land reclamation and infrastructure development in our hands, we are filled with elation and gratitude for this opportunity. Man Infraconstruction Limited being an esteemed construction service provider in the field of Port Infrastructure, is dedicated to fulfilling its commitment of delivering the project ahead of schedule. We eagerly anticipate undertaking this prestigious project and delivering exceptional results in accordance with our established reputation."
Man Infrastructure shares
The shares of Man Infraconstruction on Friday opened higher at Rs 117.50 after it announced it had bagged the project in Navi Mumbai, but at 9:35 the shares of the company were trading at Rs 116.60, up by 0.60 per cent.
