Home / Business and Economy / Vascon Engineers Bags ₹115.9 Cr Ahmedabad Park Project
Vascon Engineers Bags ₹115.9 Cr Ahmedabad Park Project
11 Mar
Summary
- Vascon Engineers received a Letter of Intent from Ahmedabad Municipal Corporation.
- The project for Lotus Park is valued at ₹115.9 crore, excluding GST.
- Development work is scheduled for completion within 24 months.
Vascon Engineers Ltd has been awarded a Letter of Intent by the Ahmedabad Municipal Corporation for the development of Lotus Park. This significant project is situated in the city's South West Zone.
The contract, valued at ₹115.9 crore before Goods and Services Tax, encompasses the development of Lotus Park across an area of 54,000 square metres. This falls under a building project initiated by the Ahmedabad Municipal Corporation.
Vascon Engineers will undertake the project on an EPC (engineering, procurement, and construction) basis. The company has indicated that the scheduled completion for this development work is within 24 months from the date the official work order is issued.
It was also confirmed that this contract is not considered a related party transaction. The project represents a notable new venture for Vascon Engineers.
