Vascon Engineers Limited announced today that it has received a Letter of Acceptance for a ₹331.38 crore project from the Chief Engineer, Public Works, Regional Department, Konkan Mumbai. The project involves constructing a medical college for 100 students, a 500-bed hospital, and ancillary buildings in Sindhudurg.
Vascon Engineers Limited shares were trading at ₹76.22, up by ₹1.33 (1.78 per cent) on the BSE at 3 pm on Tuesday.
The contract, awarded on an EPC lump sum basis, excludes GST and must be completed within 30 months from August 12, 2024. Vascon Engineers received the acceptance letter today.
The company clarified that no promoter or promoter group has any interest in the project, and it is not considered a related party transaction.