Ircon International Wins Rs 750 Crore Contract for Rishikesh-Karanprayag Railway Track

Ircon International, a subsidiary of Indian Railways, has secured a Rs 750 crore contract from Rail Vikas Nigam to install a new broad gauge track between Rishikesh and Karanprayag in Uttarakhand. The project involves design, supply, installation, testing, and commissioning of the track, excluding rails and sleepers.

The company announced that the work will be completed within 42 months through a joint venture with Paras Railtech Pvt. and PCM Strescon Overseas Ventures Ltd. The joint venture will operate in a ratio of 60:25:15, respectively.

Ircon International focuses on infrastructure projects and this new contract will help connect the 125 km stretch between Rishikesh and Karanprayag. The company’s shares closed at Rs 280.50 per share on Thursday at the National Stock Exchange.