Shares of Techno Electric & Engineering Company Ltd jumped nearly 3% in morning trade after the company announced its selection as the Managed Service Data Centre partner by RailTel Corporation of India Ltd., a “Navratna” Central Public Sector Enterprise. As of 9:18 AM, the shares weere trading 1.58% higter at Rs 1,485.30
The collaboration, finalized through an open tender process, marks a significant milestone for Techno Electric as it undertakes the development of a 10MW Data Centre in Noida. The facility will be built on RailTel’s land and executed in phases, in line with the terms outlined in the Letter of Intent. A formal contract agreement is expected to follow.
This 30-year partnership, including a 24-month implementation period, is structured under a revenue-sharing model. Techno Electric will manage and operate the data centre, while the financial specifics remain variable, as they depend on the actual revenues generated during operations. The agreement also includes provisions for possible extension, subject to mutual consent.
The company clarified that the project is entirely domestic, with no promoter or related party involvement from either Techno Electric or RailTel, ensuring transparency in the transaction.
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