Ramky Infrastructure bags ₹1,401.84 Crore EPC contract from MITL
Ramky Infrastructure Limited has been awarded a ₹1,401.84 Crore EPC contract by Maharashtra Industrial Township Limited (MITL) for infrastructure development at Dighi Port Industrial Area (DPIA) Phase I. The project includes design, construction, testing, commissioning, and operations & maintenance. The project must be completed within 930 days from the appointed date, with a 4-year O&M period. Mr. Sunil Nair, CEO, noted the contract reinforces their execution-led strategy.
The contract value is substantial and is likely to have a positive impact on the company's revenue and order book. However, the impact is medium because it's a single project and the full impact will be realized over the project's duration.
The announcement highlights a significant contract win for Ramky Infrastructure, indicating positive business development and revenue prospects.
Ramky Infrastructure Limited has secured an Engineering, Procurement, and Construction (EPC) agreement with Maharashtra Industrial Township Limited (MITL) for infrastructure works at Dighi Port Industrial Area (DPIA) Phase I Package A. The project, valued at ₹1,401.84 Crore inclusive of GST and Operations & Maintenance (O&M) revenues, is part of the Delhi Mumbai Industrial Corridor (DMIC). MITL is a Special Purpose Vehicle (SPV) with equity participation from the Government of India and the Maharashtra State Government. The project is to be completed within 930 days from the appointed date, with an O&M period of 4 years from the COD date, extendable upon mutual discussion.
The scope of work encompasses end-to-end delivery, including design, engineering, construction, testing, commissioning, and performance-based operations. It includes key industrial-area networks such as roads, stormwater systems, water treatment and distribution, sewerage systems, recycled water distribution, power distribution, and utility ducts for ICT.
Mr. Sunil Nair, CEO of Ramky Infrastructure Ltd, stated that this contract reinforces their execution-led strategy focused on selective, large-format opportunities. He added that the company will apply its in-house delivery systems to ensure predictable commissioning and performance outcomes, supported by the four-year performance-based O&M commitment.
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