VNC Receives LoI Worth INR 1050 Million
Kridhan Infra Limited (“KIL” or the “Company”) had announced that its associate company Vijay Nirman Company Private Limited (“VNC”) has received a LoI (Letter of Intent) worth INR 1050 million.
The company has been mandated to construct major and minor bridges, etc. for Package 4 of the Mumbai - Nagpur Super Communication Expressway in Maharashtra. The project is expected to be completed over a period of 12 months.
VNC is acclaimed as a leading player in bridge construction in India, with over 30 years of impeccable track-record. The company has seen strong order inflows in FY19 with order book at INR 32+ bn as on 30th September 2018. Apart from EPC projects within the roads and bridges segment, affordable housing is a major growth driver for VNC and the segment constitutes a significant proportion of VNC’s un-executed order book. KIL currently owns approximately 41% stake in VNC and hence, VNC operates as an associate company of KIL.
- Bagged By:
- Region:Western India
- Value:INR 1050 Million
- Published On:2018-12-04