Shares of Afcons Infrastructure surged more than 8% in early moring trade after the company announced that it has been selected as the most suitable bidder for a major railway rehabilitation and construction project in Europe.
The project marks Afcons Infrastructure’s entry into the European infrastructure market and is set to become the company’s largest international order to date.
According to the company, the contract involves the rehabilitation of an existing railway line along with the construction of a second railway track. The scope of work also includes overhead electrification, signalling, and telecommunication systems.
The total project value stands at €677.07 million, excluding taxes, which is approximately ₹7,544 crore.
Commenting on the development, Krishnamurthy Subramanian, Executive Chairman of Afcons Infrastructure, said the project represents a major milestone in the company’s global expansion strategy.
He stated that the order reflects Afcons’ capability to execute complex and large-scale infrastructure projects across international markets and strengthens its position as a trusted global infrastructure partner.
S Paramasivan, Managing Director of Afcons Infrastructure, said the railway project aligns with Prime Minister Narendra Modi’s vision of “Making for the World” and showcases India’s growing capabilities in global infrastructure development.
The company added that the project is expected to contribute towards modernization of railway infrastructure in the European country while helping create long-term value for stakeholders.