Twamev Construction Secures ₹19.05 Crore Order for SAIL Employees Quarter Rebuilding
Twamev Construction and Infrastructure Limited received a Letter of Acceptance from SAIL for rebuilding employees' quarters at IISCO Steel Plant. The contract value is ₹19.05 crore and is to be completed within 12 months.
The order value of ₹19.05 crore is significant and is expected to contribute to the company's revenue and project pipeline, but it is not a transformative amount for a construction and infrastructure company.
The company has secured a new order, which is a positive development for its business and revenue prospects.
Twamev Construction and Infrastructure Limited has announced the receipt of a Letter of Acceptance (LOA) from The Steel Authority of India Limited (SAIL) for the "Re-building of Employees Quarter at ISP Township in Phase-1" at SAIL-ISP Burnpur, IISCO Steel Plant.
The total contract price for this project 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 scheduled to be completed within 12 months from the effective date of the contract, which will be either the date of contract signing or 30 days from the LOA date, whichever is earlier. The company 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 receiving the LOA. The contract agreement is to be signed on non-judicial stamp paper within 30 days from the issuance of the LOA. Twamev Construction has been requested to mobilize resources immediately to ensure timely commencement of work.
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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.