Vascon Engineers Wins Rs. 225 Crore Deal for Dual Terminal Developments in Goa
Leading construction firm Vascon Engineers Limited has landed a major order valued at Rs. 225.46 crore from Royal Rides Pvt Ltd. The scope of the project involves building two terminal facilities along with ropeway tower infrastructure at two key locations in Goa-Panaji and Reis Magos. This strategic development is anticipated to significantly improve local transit options and boost tourism in the region.
The work has been awarded on a “Design and Build” basis, meaning Vascon Engineers will be responsible for the complete execution of the project, including architectural design, engineering, procurement, and construction. This comprehensive scope showcases Vascon’s capabilities in delivering complex infrastructure solutions under turnkey contracts.
According to the company’s disclosure to the stock exchanges, the total contract value stands at Rs. 225.46 crore, excluding GST and labour cess. The project must be completed within a 36-month timeline from the date of the Letter of Intent, underlining the company’s commitment to timely delivery and operational excellence.
The development of the ropeway towers along with the terminal buildings is aimed at improving local transportation and boosting tourism, particularly between the historic and scenic regions of Panaji and Reis Magos. Once completed, the infrastructure is expected to offer a seamless and scenic travel experience for both locals and tourists.
The company confirmed that the awarding firm, Royal Rides Pvt Ltd, is a domestic entity and that there are no related party interests involved. The project is expected to significantly enhance Vascon’s presence in the infrastructure sector and reinforce its reputation for executing high-value public projects.
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Share Price of Vascon Engineers after Today’s Trading session
Today, shares of Vascon Engineers Limited (VASCONEQ) traded in a narrow range on the NSE, reflecting a slight downward movement in price. The stock opened at ₹42.55 but declined during the session, reaching an intraday low of ₹40.30 and a high of ₹42.59. By the end of trading, the stock settled at ₹41.41, marking a 1.24% drop compared to the previous close of ₹41.93.
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