Key Railway Contract Awarded
Infrastructure development company HG Infra Engineering Ltd. recently announced its successful bid for a substantial railway infrastructure project in Uttar
Pradesh. The project, valued at ₹519.33 crore, was awarded by Mirzapur Thermal Energy (UP) Private Limited. This significant contract underscores the company's growing capabilities in undertaking large-scale railway construction. The scope of work is extensive, encompassing a variety of critical civil engineering tasks essential for establishing new railway lines. Specifically, the project details include comprehensive earthwork operations, the construction of necessary bridges, and the development of station buildings. Furthermore, it will involve the installation of the permanent way (P-way), which refers to the track structure itself, including rails, sleepers, and ballast. This entire undertaking is geared towards supporting a new 2x800 MW thermal power project situated in Mirzapur, highlighting the vital role of robust infrastructure in the energy sector's expansion.
Project Execution Details
The newly acquired project from Mirzapur Thermal Energy (UP) Private Limited is scheduled for execution under an item rate or Bill of Quantities (BOQ) mode. This method of contracting means that payments will be made based on the actual quantities of work performed and their agreed-upon rates. The total contract value, inclusive of all applicable taxes, has been fixed at ₹519.33 crore, representing a significant financial commitment. HG Infra Engineering is expected to complete the execution of this extensive project within a timeframe of 18 months from the award date. The company has also clarified that this order was secured from a domestic entity and does not involve any related party transactions, ensuring transparency and adherence to corporate governance norms. Furthermore, it has been confirmed that the promoter or promoter group of HG Infra Engineering has no vested interest in the awarding entity, reinforcing the integrity of the deal.
