We hereby inform the exchange that pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015- Update-EPC Subcontract entered by SEPC- Furlong JV. Detailed letter is enclosed.
SEPC · price
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SEPC Limited's unincorporated joint operation SEPC-Furlong JV has signed an EPC Sub-contract with Shalimar Corp Limited (SCL) for the widening and upgradation of the Shahjahanpur-Bisalpur section in Uttar Pradesh to a four-lane configuration. The contract is on a lump-sum turnkey basis with a total contract price of Rs. 521.46 crore. A Letter of Award (LOA) has been received for this project. This disclosure is made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.
A new contract worth Rs. 521.46 crore provides revenue visibility for SEPC. The road infrastructure project in Uttar Pradesh indicates government infrastructure spending, which is positive for the company's order book. The stock could see a modest positive reaction given the substantial contract size.