Ircon bags Rs 635 cr order from Sri Lanka Railways

New Delhi: State-run engineering and construction firm Ircon International Ltd (Ircon) Thursday said it has bagged an order worth Rs 635 crore from Sri Lanka Railways.

The contract is for upgradation of the northern railway line from Maho-Omanthai in Sri Lanka, Ircon said in a statement.

Under the contract, Ircon will upgrade single line broad gauge track from Maho-Omantha of around 128 km length including associated infrastructure works, it said.

"The company has been awarded an international railway contract worth approximately $91.27 million equivalent to Rs 635 crore from Sri Lanka Railways. This is an item rate contract which is financed through Exim Bank of India as per Indian lines of credit.

"The project is to rebuild the rail track to make it capable of carrying trains at speeds of 120 kmph and with heavier loads and to ensure efficient, safe, and comfortable transport service for passengers and freight," it said.

Under the Ministry of Railways, Ircon is a leading turnkey construction company having presence in several states of India and countries like Malaysia, Nepal, Mozambique, Ethiopia, Afghanistan, the UK, Algeria and Sri Lanka.