Afcons Infrastructure shares jumped 3% in early trading after the company announced a major international win, emerging as the lowest bidder (L1) for a high-value railway project in Croatia. As of 9:15 AM, the shares were trading 3.39% higher at Rs 433.00.
The project, awarded by HŽ Infrastruktura d.o.o. (HŽ Infrastructure Ltd)—Croatia’s state-owned railway infrastructure authority—marks a major milestone for the Indian engineering giant.
In its regulatory filing, Afcons confirmed that it secured the top position in the bidding process for the Dugo Selo–Novska railway line upgrade. The project includes reconstruction of the existing rail line, construction of a second track, installation of overhead electrification, as well as modern signalling and telecommunication systems. This comprehensive package aims to enhance Croatia’s rail connectivity and transportation efficiency.
The estimated contract value stands at EUR 677 million (approximately ₹6,800 crore, excluding taxes), making it one of Afcons’ largest international wins. While the execution timeline has not been specified, it is expected to align with standard durations for similar European infrastructure projects.
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