H.G. Infra Engineering Ltd. on Thursday received a letter from Central Railway for an order worth Rs 716.11 crore. The project is to be completed in the time frame of 30 months.
The Central Railway issued a letter for the appointment of the company for the project on Sept. 4, according to an exchange filing by the company.
The project constitutes the construction of a new broad-gauge line between Dhule (Borvihir) and the Nardana section of the Central Railway. The project to be done through EPC mode spreads across an area of 49.45 km.
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Gauge is the distance between the two tracks on any railway route and a broad gauge, also known as a wide gauge or large line, refers to railway gauges with a track distance of 1,676 mm (5 ft 6 in).
HG Infra Engineering earlier this month has received a road project valued at Rs 781 crore from the Ministry of Road Transport and Highways. The project involves upgrading an existing six-lane road, including an elevated corridor from Narol Junction to Sarkhej Junction in Gujarat on the National Highway 47.
The shares of HG Infra Engineering rose as much as 2.39% during the day to Rs 1,544 apiece on the NSE. The stock closed 0.41% lower at Rs 1,501.70 per share. This compares with a 0.06% advance in the benchmark Nifty 50. It has fallen 59.41% in the last 12 months and 77% year-to-date.
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