Texmaco Rail & Engineering bags contact worth USD 67.7 million from Bangladesh Railways

DHAKA: Texmaco Rail & Engineering has been awarded a contract valuing USD 67.7 million (nearly Rs 435 crore) by the Ministry of Railways, Bangladesh Government for construction of 45 kilometre Dual Gauge Railway Line between India and Bangladesh including Railway Station Buildings, Level Crossing Gates and a Custom House Building.

In a BSE filing, Texmaco Rail and Engineering Ltd said, “It has been awarded a contract, valuing USD 67.7 million, by the Ministry of Railway, Bangladesh Government.

The company said the contract is for construction of 45- km dual gauge railway line, including railway stations buildings, level crossing gates and a Customs house building through North Eastern Border area in Maulavibazar district of Bangladesh adjoining Karimganj of Assam.

“The rail route is expected to enhance trade and passenger transportation between the two countries by opening a new Customs checkpost. The line segment is planned to be constructed within 18 months by the EPC Division – Kalindee Rail Nirman of the company,” it added.

Following a positive open at Rs. Rs 116.95 against the previous close of Rs. 115.70, the stock touched an intraday high of Rs. 120 and a low of Rs. 114.35.

The company shares ended up by 0.35 per cent at Rs. 116.10 on the BSE. On the NSE, the stock closed higher by 0.47 per cent at Rs. 116.45.

The company said the contract is for the construction of 45-km dual gauge railway line, including railway stations buildings, level crossing gates and a Customs house building through North Eastern Border area in Maulavibazar district of Bangladesh adjoining Karimganj of Assam.

“The rail route is expected to enhance trade and passenger transportation between the two countries by opening a new Customs checkpost. The line segment is planned to be constructed within 18 months by the EPC Division — Kalindee Rail Nirman of the company,” it added.

Stock of Texmaco Rail and Engineering was trading 1.21 per cent higher at Rs 117.10 on the BSE.

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