Texmaco Rail & Engineering Ltd. announced the receipt of a substantial contract valued at Rs. 219.18 crores. The order, awarded by M/s. Mumbai Railway Vikas Corporation Ltd., covers the Design, Supply, Installation, Testing, and Commissioning of Signalling equipments/gears for a proposed railway line expansion under the Mumbai Suburban (MUTP-IIIA) project. The contract is domestic in nature and mandates completion within 36 months of the Notice to Proceed.
Major Contract Announcement
Texmaco Rail & Engineering Ltd. has officially disclosed the receipt of a significant new order, cementing its role in critical railway infrastructure development. The contract was awarded by M/s. Mumbai Railway Vikas Corporation Ltd.
Contract Details and Value
The broad consideration for the order stands at Rs. 219.18 crores (excluding taxes). The scope of work is comprehensive, involving the Design, Supply, Installation, Testing and Commissioning of specialized Signalling equipments/gears. This is crucial for the Construction of the Proposed line in the Mumbai Suburban network under the (MUTP-IIIA) initiative.
Execution Timeline and Nature
The contract is classified as domestic, both in terms of the awarding entity and the nature of the work. A key term of the agreement specifies that the work is required to be executed within a period of 36 months from the issuance of the Notice to Proceed.
Corporate Compliance Confirmation
The Company confirmed that there is No interest held by the promoter or group companies in the awarding entity. Furthermore, the order does Not fall within the definition of related party transactions, confirming that if any such transaction existed, it would be done at “arm’s length”.
Source: BSE
