Prostarm Info Systems Secures 13.43 Crore Solar Plant Contract
Filing Summary
Prostarm Info Systems Ltd has received a Letter of Acceptance from South Eastern Railway for a contract valued at INR 13.43 Crores. The agreement involves the supply, installation, and erection of a solar power plant at SRC Jurisdiction (Phase 2) over a 12-month period. This contract includes a comprehensive maintenance contract for five years. The order was awarded in the normal course of business and does not involve any related party transactions. The project is domestic, with no interest from the promoter group in the awarding entity.
Prostarm Info Systems Ltd has announced the receipt of a Letter of Acceptance from South Eastern Railway for a contract concerning the supply, installation, and erection of a solar power plant at SRC Jurisdiction (Phase 2). The contract is valued at INR 13.43 Crores and is set to be executed over a period of 12 months from the date of the LOA issuance.
The contract includes a comprehensive maintenance contract (CMC) for five years, ensuring the sustained operation of the solar power plant post-installation. This project is classified as a domestic order and falls within the normal course of business for Prostarm Info Systems. The company has confirmed that there are no related party transactions involved in this contract, and the promoter group does not have any interest in the awarding entity.
The details of the contract were disclosed in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also referenced SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, for the disclosure requirements.
South Eastern Railway is a key player in the Indian railway sector, focusing on enhancing infrastructure and operational efficiency. The awarding of this contract aligns with their ongoing efforts to integrate renewable energy solutions into their operations.
Prostarm Info Systems Ltd specializes in providing power solutions, with a focus on renewable energy projects. The company continues to expand its portfolio in the solar energy sector, aligning with its strategic priorities to support sustainable energy initiatives.