Ircon International Ltd on Wednesday said it has emerged as the lowest bidder for a construction project worth Rs 392.5 crore in Madhya Pradesh. The project was floated by the Water Resources Department of Madhya Pradesh.
“Ircon International has emerged as the lowest bidder (L1) for construction of balance work of Bahuti Canal project on turnkey basis, including completion of earth work of main canal system….and other ancillary activities,” according to a regulatory filing.
The total duration of the project is three years, and management, operation and maintenance period will be 60 months.
Ircon International is a wholly-owned subsidiary of the Indian railways, under the Ministry of Railways.
On Friday, Ircon International Ltd reported a 38.3 per cent rise in its consolidated net profit at Rs 174.18 crore for the quarter ended September.