Texmaco shares gain 7% on Hitachi-led Rs.1800 Crore Order

Texmaco Rail to supply signalling equipments to DFCCIL

Kolkata: Texmaco Rail & Engineering Ltd has said that it would supply domestic equipment and carry out the installation work for signalling and telecom works on the 950 km stretch between Rewari in Hayana and Vadodara in Gujarat of the Western Dedicated Freight Corridor.

Texmaco is a partner in the consortium led by Hitachi Ltd of Japan, which recently won the Rs. 1780.2 crore contract from Dedicated Freight Corridor Corporation of India for the project on the Delhi-Mumbai corridor.

The project work involves the use of latest signalling and telecom technologies like electronic interlocking, multi-section digital axle counters, train management and diagnostic system. This is the biggest signalling and telecom work on Indian Railways in terms of cost.

Texmaco said in a communication that for the project, the consortium leader Hitachi would manufacture the key signalling equipment. Mitsui, the other consortium partner, “will provide overall coordination with DFCCIL and related agencies in Japan and India. Hitachi India and Texmaco will supply domestic equipment. Texmaco will also carry out the installation,” the company added.

Shares of Texmaco Rail & Engineering rallied over 8 per cent in trade on Friday after the Adventz group firm said a four-company consortium led by Japanese firm Hitachi has bagged a contract worth an aggregate value of Rs 1,800 crore from the Dedicated Freight Corridor Corp (DFCCIL).

The stock ended 7.09 per cent higher after hitting an intraday high of Rs 149.90, up 8.46 per cent on the Bombay Stock Exchange (BSE).

A total of 5.10 lakh shares changed hands in trade, compared with a two-week average of 69,000 shares on the BSE.

“A four-company consortium of Texmaco, Hitachi, Mitsui & Co, Hitachi India has won a contract for the design and construction of railway signals and telecom equipment installation, a part of the dedicated freight corridor traversing the biggest industrial cluster between Delhi and Mumbai,” said the Saroj Poddar-led firm in a filing to BSE.

The contract will cover the 915-km distance between Rewari in Haryana and Vadodara in Gujarat.

As a consortium leader, Hitachi will manufacture key equipment for the signalling system. Mitsui will provide overall coordination with DFCCIL and related agencies in Japan and India, while Hitachi India will procure and supply locally made products. Texmaco will supply domestic equipment and will also carry out the installation.

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Comments are closed.