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The company disclosed that both orders relate to the development of distribution infrastructure for loss reduction works across Mandi, Bilaspur, Kullu and Hamirpur operation circles under the central zone of Himachal Pradesh State Electricity Board Ltd. Shares of Salasar Techno Engineering Ltd ended at ₹9.93, down by ₹0.12, or 1.19%, on the BSE.
Steel structure maker Salasar Techno Engineering Ltd on Thursday (November 26) said it has secured two contracts worth a combined ₹695.18 crore from Rail Vikas Nigam Ltd.
The company disclosed that both orders relate to the development of distribution infrastructure for loss reduction works across Mandi, Bilaspur, Kullu and Hamirpur operation circles under the central zone of Himachal Pradesh State Electricity Board Ltd. The projects fall under the Revamped Reforms-based and Results-linked Distribution Sector Scheme.
The first contract is for a Service Support and Procurement Management assignment covering the procurement of electrical and mechanical items. This package carries an approximate value of ₹524.99 crore, inclusive of GST.
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The second contract, valued at approximately ₹170.19 crore including GST, is for erection work associated with the same distribution infrastructure development.
Salasar stated that the contracts, awarded by a domestic entity, will be executed within a period of 20 months. The company confirmed that neither the promoter group nor related parties have any interest in RVNL, and the orders do not fall under related-party transactions. Both projects are governed by the General Condition Contract framework.
Shares of Salasar Techno Engineering Ltd ended at ₹9.93, down by ₹0.12, or 1.19%, on the BSE.
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