Alstom's proposed JV bags Rs 1,497-cr contract from DFCCIL

"The proposed joint venture of Alstom India Ltd (AIL) and Alstom Transport S.A. (ATSA) has been issued a letter of acceptance by Dedicated Freight Corridor Corporation of India Ltd," Alstom said in a BSE filing on Thursday.

New Delhi: The proposed joint venture of Alstom India Ltd and Alstom Transport S.A. Has bagged Rs 1,497 crore worth contract from Dedicated Freight Corridor Corporation of India Ltd (DFCCIL).

"The proposed joint venture of Alstom India Ltd (AIL) and Alstom Transport S.A. (ATSA) has been issued a letter of acceptance by Dedicated Freight Corridor Corporation of India Ltd," Alstom said in a BSE filing on Thursday.

The contract is for Bhaupur (Kanpur)- Khurja section of EDFC Phase-I, 343 km (Double Track) length on Design Build lumpsum basis at a cost of about Rs 1,497 crore.

It includes design, construction, supply, testing and commissioning of 2X25kv AC 50 Hz electrification, signalling, and telecommunication besides, associated works of double track railways lines under construction.

In the same filing, the company also said that AIL had completed the sale and transfer of its transportation systems undertaking to Alstom Transport India Ltd as a going concern on a 'slump sale' basis on March 31, 2014.

"Before the sale and transfer of the Transport Undertaking, AIL and ATSA had participated in the bidding process in February 2013 against which the aforesaid LoA has been issued by DFCCIL. Pursuant to the said LoA, AIL and ATSA shall incorporate a Special Purpose Company (SPC) for the purpose of executing the aforesaid project," Alstom said.

The company added that its (AIL) role in such SPC shall be limited only to equity participation not exceeding 5 per cent.

Alstom India shares were trading 2.50 per cent down, at Rs 800.70 apiece, in the moring trade on BSE.

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