Gammon India bags two Chennai Metro orders

Gammon India bags two Chennai Metro orders

"Gammon India has been awarded UAA-02 and UAA-03. The two project contracts have a value of Rs 932.88 crore and Rs 1,047.42 crore," it said in a communique to the Bombay Stock Exchange (BSE).

These contracts (UAA-01 and UAA-05) are part of a five-tender package floated by CMRL for the design and construction of underground stations and associated tunnels, covering a total length of 18 km and 19 underground stations, it added.

"The scope of work for both packages involves construction of seven underground stations at Govt Estate, LIC Building, Thousand Light, Gemini, Teynampet, Chamiers Road and Saidapet, along with twin bored tunnels covering a total length of over 6.4 km," the statement said.

Gammon India will execute the orders alongside its joint venture partner, OJSC Mosmetrostory, which has technological know-how and expertise in underground tunneling. Gammon's Moscow-based joint venture partner has 80 years' experience in metro development and has constructed over 177 stations and laid more than 300 km of railway lines, Gammon said.

Shares of Gammon India were trading at Rs 122.95 apiece at around 2 pm on the BSE today, up 7.05 per cent from their previous close.