Mumbai: Vascon Engineers Limited on Monday announced that it has secured a construction work order worth Rs 131.58 crore from Reliance Industries Limited for its RG Expansion Project in Jamnagar, Gujarat.
The company said it received a Letter of Intent (LoI) for the “construction of 04 Nos G+12 FLL Type Buildings for Sector-3 at RG Expansion Jamnagar.” The contract value excludes GST and has been awarded on a Bill of Quantities (BOQ) basis.
Project To Be Completed In 19 Months
According to the filing, the project is expected to be completed within 19 months from the date of receipt of the order. The construction contract is domestic in nature and relates to the development of four high-rise residential structures at Reliance’s expansion project site in Jamnagar.
The company also clarified that none of its promoter group entities have any interest in the awarding company and that the transaction does not fall under related party transactions.
Strengthening Order Book
The latest contract win is expected to strengthen Vascon Engineers’ order book and reinforce its position in the engineering and construction segment. The project from Reliance Industries adds to the company’s portfolio of large-scale infrastructure and real estate construction assignments.
The disclosure was made by the company under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Disclaimer: This article is based solely on the company exchange filing and does not include independent verification or additional commentary.
