3 weeks ago
Vascon Engineers Secures ₹126.39 Crore Order for 300-Bed Maharashtra Hospital
A construction company called Vascon Engineers got a big job from the government.
The job is to build a new hospital in Maharashtra, a state in India.
The hospital will have 300 beds for patients.
The government will pay the company about ₹126.39 crore, which is a very large amount of money.
The company received an official letter saying it can start the work.
The construction must be finished within 24 months, which is about two years.
This new hospital will help people in the area get better healthcare services.
The company said the deal is fair and has no connection to its own owners.
If the project goes well, it could bring in money for the company over the next couple of years.
Vascon Engineers Limited received a ₹126.39 crore order, excluding GST, to develop a 300-bed general hospital in Maharashtra.
The order was awarded by the Executive Engineer of the Public Works Department (PWD), Arvi Division, Wardha-Nagpur.
The company has received a Letter of Intent confirming its selection for the construction work.
The hospital project must be completed within 24 months from the date of receiving the order, on an 'item rate basis' contract.
Vascon Engineers said no promoter interest exists and the contract is not a related-party transaction.
- Who
- Vascon Engineers Limited, awarded the contract by the Executive Engineer, Public Works Department (PWD), Arvi Division, Wardha-Nagpur, Maharashtra.
- What
- A ₹126.39 crore order to develop a 300-bed general hospital.
- Where
- Maharashtra, India, in the Wardha-Nagpur region (Arvi Division).
- When
- Announced in a stock exchange filing on Wednesday; the exact date is not specified in the article.
- Why
- To strengthen public healthcare infrastructure and increase access to hospital services in the region.
Key facts
- Contract Value
- ₹126.39 crore (excluding GST)
- Project
- 300-bed general hospital
- Awarding Authority
- Executive Engineer, Public Works Department (PWD), Arvi Division, Wardha-Nagpur
- Location
- Maharashtra, India
- Completion Timeline
- Within 24 months from receipt of the order
- Contract Type
- Item rate basis
- Status
- Letter of Intent received
- Related-Party Status
- No promoter interest; not a related-party transaction
Sources
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