Hindustan Construction Company Ltd. (HCC), along with its joint venture (JV) partner Tata Projects Ltd. (TPL), has bagged a ₹2,191 crore contract for the construction of an 8.65 km-long corridor, including underground tunnels and stations, for Madhya Pradesh Metro Rail Corporation Limited (MPMRCL).
HCC holds a 55% share in the joint venture, amounting to ₹1,205 crore.
Package IN-05R is the first and only underground segment of the 31.32 km Indore Metro Phase 1 project.
The package includes the construction of an 11.32 km-long tunnel using a tunnel boring machine (TBM) and seven underground stations at Indore Railway Station, Rajwada, Chota Ganpati, Bada Ganpati, Ramchandra Nagar, BSF/Kalani Nagar, and Airport. It connects a ramp east of Indore Railway Station to a ramp west of Airport Station.
Currently, HCC is engaged in Mumbai Metro Line Ill, constructing 4 km of twin tunnels and four stations, along with two Chennai Metro packages.
The company has constructed major portions of the Delhi Metro, Bangalore Metro, Mumbai Metro Line I and Kolkata Metro.
Following the announcement, shares of Hindustan Construction Company Ltd. are currently trading nearly 4% higher at ₹23.95. The stock has tumbled 40% so far this year.
Content retrieved from: https://www.cnbctv18.com/market/hcc-hindustan-construction-company-share-price-tata-projects-jv-bag-indore-metro-contract-19574161.htm.
