ITD Cementation shares up 1% after Rs 1,648 crore Vadhvan Port contract win
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ITD Cementation India shares were trading higher by 1% on Wednesday after the company secured a Rs 1,648 crore engineering, procurement, and construction (EPC) contract for near-shore reclamation and shore protection work at Vadhvan Port in Maharashtra. The company emerged as the lowest bidder, securing the contract at a price 6.9% lower than the estimated cost of Rs 1,770 crore, excluding GST. The contract was approved by the Vadhvan Port Project Limited (VPPL) board during its eighth meeting on Tuesday, with the bid deemed both reasonable and workable. The awarded package includes the development of about 200 hectares of land in the near shore area, a critical component for initiating other key packages of the port project, such as loading points and essential infrastructure. Also Read: ET Poll: 3 sectors investors should focus on in 2025 VPPL is developing the facility near Dahanu in Maharashtra's Palghar district, with an investme...