GPT Infraprojects Emerges Lowest Bidder for INR12 Billion Rail-Road Bridge Project

MT Newswires Live01-29 16:33

GPT Infraprojects (NSE:GPTINFRA, BOM:533761) has been declared the lowest bidder for a contract worth over 12 billion Indian rupees, awarded by Northern Railway, according to a Wednesday filing on Indian bourses.

The project has been bid through a joint venture with Rail Vikas Nigam (NSE:RVNL, BOM:542649). GPT Infraprojects holds a 40% share in the joint venture, translating to a contract value of about 4.81 billion rupees, the filing said.

The scope includes the design and construction of a new rail-cum-road bridge over the river Ganga near Kashi railway station. The bridge will support four railway lines on the lower deck and a six-lane road on the upper deck, according to the filing.

Shares of GPT Infraprojects were down nearly 2% in Thursday's trade.

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