Key Points of HCC JV Rail Project:
- HCC has secured a significant contract worth Rs 3,681 crore for the construction of the Bandra Kurla Complex Station on the Mumbai-Ahmedabad High-Speed Rail.
- The joint venture between HCC and Megha Engineering & Infrastructures Ltd (MEIL) was awarded the contract by the National High-Speed Rail Corporation Limited (NHSRCL).
- The BKC Bullet Train Station will feature six platforms capable of accommodating a 16-coach bullet train.
- The station will have connectivity with both metro and road transport, making it easily accessible.
- The underground station will be situated at a depth of about 24 meters below ground level, making it an engineering marvel.
- The contract also includes building a retrieval shaft on the eastern end for the removal of the tunnel boring machine (TBM), architectural finishing, all MEP works, and testing and commissioning.
- Following the announcement of the contract win, HCC witnessed a 7% increase in its share price intraday, which is a great indication of investor confidence.
- This significant contract win solidifies the position of HCC and MEIL as leaders in the construction of high-speed rail infrastructure, and is a great achievement for both companies.
Details of HCC JV Rail Project:
HCC Secures Rs 3,681 Crore Contract for Mumbai-Ahmedabad High-Speed Rail
HCC has recently announced a significant contract win with Megha Engineering & Infrastructures Ltd (MEIL). The National High-Speed Rail Corporation Limited (NHSRCL) has awarded the joint venture a contract worth Rs 3,681 crore for the construction of the Bandra Kurla Complex Station on the Mumbai-Ahmedabad High-Speed Rail.
The BKC Bullet Train Station will feature six platforms, each capable of accommodating a 16-coach bullet train. Additionally, the station will have connectivity with both metro and road transport. The underground station will be situated at a depth of about 24 meters below ground level.
The contract also includes building a retrieval shaft on the eastern end for the removal of the tunnel boring machine (TBM), architectural finishing, all MEP works, and testing and commissioning.
Following the announcement of the contract win, HCC witnessed a 7% increase in its share price intraday. Currently, Hindustan Construction Company is quoting at Rs 15.16, up Rs 0.83, or 5.79 percent on the BSE.
With a 52-week high of Rs 22.70 and a 52-week low of Rs 10.54 on 20 December 2022 and 20 June 2022, respectively, the company is currently trading 33.22% below its 52-week high and 43.83% above its 52-week low.
This significant contract win is a great achievement for Hindustan Construction Company and Megha Engineering & Infrastructures Ltd, as it solidifies their position as leaders in the construction of high-speed rail infrastructure.
About HCC:
The primary focus of Hindustan Construction Company (HCC) is to offer engineering and construction services, real estate solutions, as well as infrastructure and urban development and management services. Founded in 1926, it is among the earliest infrastructure firms in India.
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