ARSS Infrastructure Projects Limited, currently under the Corporate Insolvency Resolution Process (CIRP), announced a major work order worth ₹207.74 crore, sparking a 5% surge in its share price.
Key Details of the Work Order:
- Awarding Entity: ABCI-SCPL-SIPS JV
- Scope of Work: Comprehensive railway infrastructure projects, including:
- Supply and installation of railway track materials
- Deep screening and ballast-related activities
- Track welding and reconditioning
- Electrification of railway tracks
- Other specialized railway construction tasks
- Duration: 24 months (subject to mutual agreement)
- Value: ₹207.74 crore
Related Party Involvement:
- A related party holds a 25% share in the awarding JV.
- The transaction is confirmed to be at arm’s length and adheres to regulatory standards.
Statement from ARSS Infrastructure:
The company expressed its commitment to successfully executing the project, further strengthening its foothold in the railway and infrastructure sectors.
This significant contract win reinforces ARSS Infra’s potential for revival and positions it as a competitive player in the infrastructure domain.
