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RKEC Projects Limited has secured a ₹186.68 crore contract from Maharashtra Maritime Board to develop passenger jetty and terminal facilities near Gateway of India, strengthening its infrastructure portfolio.
RKEC Projects Limited has won a significant order from the Maharashtra Maritime Board worth ₹186.68 crore. The contract involves developing passenger jetty and terminal facilities at Radio Jetty, near the iconic Gateway of India in Mumbai. This project, to be executed on an EPC (Engineering, Procurement, and Construction) basis, reinforces RKEC Projects' expertise in infrastructure development, particularly in the maritime sector.
The scope of the project includes the construction of a state-of-the-art passenger jetty and terminal, aimed at improving water transport facilities in Mumbai. The development of this jetty is crucial to enhancing the city's connectivity via waterways, facilitating passenger movement, and boosting local tourism. This EPC contract is valued at ₹186.68 crore, excluding GST, and further cements RKEC’s position in the infrastructure sector.
The Maharashtra Maritime Board has entrusted RKEC Projects with this major task due to the company's experience in handling complex infrastructure projects. RKEC Projects has developed a strong reputation for its partnerships with state authorities, working on critical infrastructure that impacts transportation and connectivity.
This contract comes at a time when RKEC Projects is expanding its infrastructure portfolio across India. The company has made significant strides in sectors such as roads, bridges, ports, and water infrastructure, making it a trusted player in the EPC space. With this latest project, RKEC continues to showcase its capability to manage large-scale infrastructure developments, particularly in challenging urban environments like Mumbai.
Following the announcement, RKEC Project share price closed at ₹128.80 on October 4, 2024, marking a slight increase of ₹0.17 or 0.13%. Investors will be closely monitoring the company's stock performance as this new contract strengthens RKEC's position in the infrastructure space.
The award of the ₹186.68 crore contract from Maharashtra Maritime Board marks another milestone for RKEC Projects in its infrastructure journey. The development of the jetty near Gateway of India will further boost RKEC's standing in the EPC sector and is likely to have a positive impact on the RKEC Project share price in the coming months.
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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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