Ircon International bags order worth Rs1780 cr from Ministry of External Affairs

28 Feb 2022 , 03:10 PM

In its regulatory filing dated February 28, 2022, Ircon International Ltd. informed the exchanges and investors that the company has been appointed as ‘Project Implementation Agency’ for “Construction of Road from Paletwa (Myanmar) to Zorinpuri (Mizoram) under Kaladan Multi Modal Transit Transport Project (KMMTTP)” in Myanmar, on EPC mode at Lump Sum cost of Rs1,780 Crore by Ministry of External Affairs, Government of India.

The project shall continue for a period of forty (40) months from the Effective Date i.e. date of execution of the necessary Agreement which will be executed within the next 14 days.

Following this development, Ircon International Ltd. jumped by 0.75% at Rs40.40 against its previous closing price of Rs40.10. It touched the intraday high and low of Rs40.95 and Rs39.80 respectively near day’s end.