R P P Infra Projects Secures Rs. 52 Crore Tamil Nadu Contract
Filing Summary
R P P Infra Projects Ltd has received a new work order valued at Rs. 52,17,05,486 from the Water Resources Department, Tamil Nadu. The contract involves flood mitigation works for the establishment of Global Sports City at Semmancheri, Chennai. The project includes the formation of new tanks, construction of peripheral earthen drains, and capacity enhancement of surrounding tanks. The contract is set for completion within 12 months. This development is in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
R P P Infra Projects Ltd has announced the receipt of a new work order from the Water Resources Department, Tamil Nadu. The contract, valued at Rs. 52,17,05,486, pertains to flood mitigation works for the establishment of Global Sports City at Semmancheri, Chennai. This disclosure is made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The financial terms of the contract specify a total value of Rs. 52,17,05,486. The tender was accepted with a reduction of Rs. 97,805, which is a 0.02% decrease from the estimated amount. The contractor is required to furnish a security deposit of Rs. 1,04,50,000. This deposit must be in the form of a National Savings Certificate or Deposit Receipt, pledged in favor of the Executive Engineer, WRD, Lower Palar Basin Division, Kancheepuram, and valid for 25 months.
The scope of work under this contract includes the formation of new tanks, construction of peripheral earthen drains, cut and cover channels, and capacity enhancement of surrounding tanks. These activities are aimed at mitigating flood risks in the designated area. The contract specifies that the work is to be completed within a 12-month period from the date of commencement.
The project is a domestic contract awarded by the Water Resources Department, Tamil Nadu, specifically by the Superintending Engineer of the Palar Basin Circle, Chepauk, Chennai. The contract does not involve any related party transactions, and there is no interest from the promoter or promoter group in the entity awarding the contract.
The timeline for the project is set at 12 months, with the requirement for the contractor to sign the draft agreement within 15 days of receiving the acceptance letter. Failure to comply with this requirement will result in the cancellation of the contract and forfeiture of the Earnest Money Deposit (EMD).
Water Resources Department, Tamil Nadu, is responsible for managing water resources and infrastructure projects in the state. The department focuses on flood control, irrigation, and water supply projects to enhance the state’s water management capabilities.
R P P Infra Projects Ltd is engaged in the construction and infrastructure development sector. The company undertakes projects in various segments, including roads, bridges, and water management systems. R P P Infra Projects Ltd is committed to expanding its portfolio through strategic project acquisitions and enhancing its operational capabilities in the infrastructure domain.