Power Mech Projects has announced the receipt of a significant order from South Western Railway, Bangalore. The project involves the development of a Vande Bharat Sleeper Trains Maintenance Depot at Thanisandra, located between Channasandra and Yelahanka Stations in Karnataka. This order is to be executed under the Engineering Construction and Procurement (EPC) mode.
The order, valued at ₹227.95 crore including Goods & Services Tax, is expected to be completed within 30 months from the appointed date. This contract has been awarded by a domestic entity, and it does not involve any interest from the promoter group or related party transactions.
Power Mech Projects has been entrusted with the task of constructing this maintenance depot, which is a part of the broader initiative to enhance the railway infrastructure in the region. The project is expected to bolster the capabilities of the Vande Bharat trains, which are known for their speed and efficiency.
The company has confirmed that there are no related party transactions involved in this order, ensuring that it is conducted at arm’s length. The execution of this project is anticipated to contribute significantly to the company’s portfolio in the engineering and construction sector.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).