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LCC Projects Secures ₹653 Crore Rajasthan Irrigation Project as Lowest Bidder
- •LCC Projects emerged as the lowest bidder for a ₹653.34 crore irrigation project in Rajasthan, including GST.
- •The project, awarded by the Water Resources Department in Kota, involves building the Chhoti Kalisindh Medium Irrigation Project in Jhalawar district.
- •It will utilize sprinkler irrigation and solar power systems, covering the Chhoti Kalisindh and Chahurni rivers in Gangdhar tehsil.
- •The project will be executed on an engineering, procurement, and construction (EPC) turnkey basis and is expected to be completed within 36 months.
- •LCC Projects, a Gujarat-based company, recently debuted on the stock market with its ₹427.1 crore IPO subscribed 48.51 times.
Key Questions Answered
LCC Projects emerged as the lowest bidder for a ₹653.34 crore irrigation project awarded by the Water Resources Department in Kota, Rajasthan. The project involves building the Chhoti Kalisindh Medium Irrigation Project in Jhalawar district using sprinkler irrigation and solar power systems.
The project will be executed on an engineering, procurement and construction (EPC) turnkey basis, making LCC Projects responsible for everything from design and procurement to construction. It is a domestic order that is scheduled to take 36 months to complete from the effective date of the contract.
LCC Projects made its stock market debut on September 17, opening at ₹191.90 on the BSE (a 31.44% premium) and ₹189 on the NSE (a 29.45% premium) over its IPO price of ₹146. Its ₹427.1 crore IPO was subscribed 48.51 times overall when bidding closed on September 11.
