Twamev Construction Secures ₹19.05 Crore Contract from SAIL-ISP Burnpur
Twamev Construction and Infrastructure Limited received a Letter of Acceptance from SAIL-ISP Burnpur for rebuilding employees' quarters. The contract is valued at ₹19.05 crore and is to be completed within 12 months.
The contract value of ₹19.05 crore is significant and will contribute to the company's revenue and order book.
The company has received a new order, which is a positive development for its business.
Twamev Construction and Infrastructure Limited (formerly Tantia Constructions Limited) has received a Letter of Acceptance (LOA) from The Steel Authority of India Limited (SAIL) for the construction of “Re-building of Employees Quarter at ISP Township in Phase-1” at SAIL-ISP Burnpur.
The contract value is ₹19,04,65,887.63 (Rupees Nineteen Crore Four Lakh Sixty-Five Thousand Eight Hundred Eighty-Seven and Paisa Sixty-Three Only), inclusive of GST.
The project is to be executed within 12 months from the effective date of the contract, which is either the date of signing the contract or 30 days from the date of the LOA, whichever is earlier. Twamev Construction is required to submit a Security Deposit of ₹95,23,295 (5% of the contract value) in the form of a Performance Bank Guarantee within 20 days of the LOA issuance.
The formation of the contract will be constituted by the issuance of the LOA, and the formal contract agreement is to be signed within 30 days from the LOA issuance.
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Twamev Construction and Infrastructure Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Twamev Construction and Infrastructure Limited. Read the original for the full detail.