Twamev Construction and Infrastructure Limited has informed the Exchange about Receiving of orders/contracts: Disclosure of Information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Receipt of Letter of Acceptance for Re-building of Employees Quarter at ISP Township in Phase-1 of SAIL-ISP Burnpur, IISCO Steel Plant
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Twamev Construction and Infrastructure Limited has received a Letter of Acceptance from Steel Authority of India Limited (SAIL) for the construction of employee quarters at SAIL-ISP Burnpur in West Bengal. The contract value is Rs. 19.04 crore (including GST). The work involves rebuilding employee quarters at the ISP Township in Phase-1 and must be completed within 12 months from the effective contract date. The company must submit a security deposit of Rs. 95.23 lakh (5% of contract value) as Performance Bank Guarantee within 20 days. The contract will be formed upon issuance of LOA, with a formal agreement to be signed within 30 days.
This is a positive development as the company secures a Rs. 19 crore contract from a government PSU. While the exact value relative to company revenue is unknown, securing a construction order from SAIL demonstrates the company's ability to win contracts in the infrastructure sector.