JMC Projects bags order worth Rs 1,000 crore from Maldives' Fahi Dhiriulhun Corporation

Engineering firm JMC Projects India on Tuesday said it has bagged construction order worth Rs 1,000 crore from Maldives Fahi Dhiriulhun Corporation.In a filing to the BSE, JMC Projects India Ltd said it has signed an agreement with Fahi Dhiriulhun Corporation Ltd, a state-owned company of the Government of the Republic of the Maldives, for the design, finance and construction of 2,000 social housing units in Hulhumale Island of Maldives.

Engineering firm JMC Projects (India) on Tuesday said it has bagged construction order worth Rs 1,000 crore from Maldives' Fahi Dhiriulhun Corporation.

In a filing to the BSE, JMC Projects (India) Ltd said it has signed an agreement with Fahi Dhiriulhun Corporation Ltd, a state-owned company of the Government of the Republic of the Maldives, for the design, finance and construction of 2,000 social housing units in Hulhumale Island of Maldives. The company said the total value for this project is estimated to be around USD 137 million (Rs 1,000 crore) and is planned to be financed via a loan from a multilateral funding agency.

JMC Projects CEO and Deputy Managing Director S K Tripathi said the company's international business has expanded its presence further with this project in Maldives. Shares of JMC Projects (India) were trading 10.52 per cent higher at Rs 86.70 apiece on BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)