IRCON JV secures major contract from RVNL for Rishikesh – Karanprayag rail project

IRCON International Limited, in a joint venture with M/s Paras Railtech Pvt. Ltd. and M/s PCM Strescon Overseas Ventures Ltd., has been awarded a contract by Rail Vikas Nigam Limited.

The consortium received a Letter of Award (LoA) for the commissioning of ballastless track and associated civil works for the Rishikesh to Karanprayag rail project, spanning 125 km. This project aims to enhance rail infrastructure and connectivity in the region.

The nature of the work is to Design, supply, installation, testing and commissioning of broad gauge Ballastless Track (BLT), supply of ballast and installation of track (excluding supply of rails and track sleepers) between chainage 6+015 (FLS) to 125+200 (FLS) in connection with New BG line between Rishikesh and Karanprayag (125km) in the state of Uttarakhand, India.

Read Also : Indian Overseas Bank Reports 24.32% increase in Net Profit for Q2FY25

The awarded value of the contract is  Rs 7.5 crore. The contractual period is 42 months. The Share of each member in the JV is as follows: IRCON-60%, Paras Railtech-25%, PCM Strescon-15%

The new Broad Gauge (BG) Railway line between Rishikesh and Karanprayag is a very important development project undertaken by the Ministry of Railway. The purpose of providing Rail link between Rishikesh and Karanprayag is for facilitating easy access to pilgrimage centres situated in the state of Uttarakhand, connecting new trade centres, development of backward areas and to serve the population living in the area.

Read Also : Urgo Capital And United States International Development Finance Corporation (DFC)

This contract marks a significant step forward in the development of the Rishikesh to Karanprayag rail project, which will play a crucial role in enhancing connectivity and promoting regional development in Uttarakhand. The joint venture between IRCON, Paras Railtech, and PCM Strescon is poised to deliver high-quality infrastructure that meets the strategic needs of the region.

Read Also : Karur Vysya Bank announced its Q2 results today