IL&FS Engineering and Construction Company Ltd has been awarded a Rs 233.93-crore contract by Rail Vikas Nigam Ltd , Mumbai.
The company has also become the lowest bidder for another project, according to a company statement.
This new order entails construction of roadbed, major and minor bridges, track linking among others works in connection with the doubling of Bhigwan- Mohol section (127.14 km). This is part of Daund-Gulbarga doubling in Solapur division of the Central Railways in Maharashtra.
The project is to be completed in 42 months from the date of commencement of work. IL&FS Engineering Services is also the lowest bidder for another Railway project involving construction of a tunnel for an amount of Rs 269 crore.
The company is undergoing a turnaround after it took over the management from erstwhile promoters of Maytas Infrastructure Ltd.
The company has embarked on a capital restructure process and is awaiting approvals, including that of the Andhra Pradesh High Court. It has also extended the annual year by six months.
The company shares closed down by 5.07 per cent to end at Rs. 54.25 crore.
vrishi@thehindu.co.in