Key Highlights
- Artefact Projects secured a ₹21.13 crore project from South Central Railway.
- The project involves providing Project Management Services as an Authority Engineer.
- The assignment covers construction sites and sections under South Central Railway’s Secunderabad jurisdiction.
- The contract value is ₹21,12,89,143.54 excluding GST.
- The project has a tenure of 24 months.
- A performance guarantee equivalent to 5% of the contract value is applicable.
- The project marks Artefact Projects’ first railway consultancy assignment.
- The project will be executed through a joint venture with AVOK Engineering & Contracting Pvt. Ltd. and TUMAS Turkish Engineering Consulting & Contracting Inc. Co.
Artefact Projects Limited has secured a ₹21.13 crore project from South Central Railway for providing Project Management Services (PMS) as an Authority Engineer at various construction sites and sections under the jurisdiction of the Chief Electrical Engineer/Projects, Secunderabad.
The company received the Letter of Award for the project, with the contract valued at ₹21,12,89,143.54, excluding GST. The project has a tenure of 24 months and requires a performance guarantee equivalent to 5% of the contract value.
The project marks Artefact Projects’ first railway consultancy assignment. The company will execute the project through a joint venture with AVOK Engineering & Contracting Pvt. Ltd. and TUMAS Turkish Engineering Consulting & Contracting Inc. Co.
South Central Railway is the entity awarding the contract, and the company has classified the order as a domestic project. Artefact Projects also stated that its promoter or promoter group has no interest in the entity awarding the contract.
The company further disclosed that the order does not fall under related-party transactions and is not an arm’s-length transaction.