Shriram EPC rallied as much as 12.1 percent in morning trade on Thursday after the company said that it has won a Rs 71-crore contract from the Arulmigu Dandayuthapani Temple, or Palani Temple, in Tamil Nadu to build a ropeway.
In a statement, the company said the scope of the order includes design, manufacture, supply, erection, testing, commissioning, operating and maintenance of the second ropeway to the temple to serve 1,200 persons per hour.
At 09:20 AM; Shriram EPC pared some gains but was still trading 8 percent higher at Rs26.50. It rose to a high of Rs27.30 and a low of Rs26.35 in trade today.
Shriram EPC is one of the leading service providers of integrated design, engineering, procurement, construction and project management services for medium to large infrastructure projects in Water & Sewerage, Renewable Energy, Process and Metallurgical plants and Municipal service sector projects throughout India.
The scope of this first Transportation project work includes Design, Manufacture, Supply, Erection, Testing, Commissioning, Operating and Maintenance of the Second Ropeway to the Temple that will serve 1,200 persons per hour.
The temple is located atop a hill and is accessible by stairs, a winch system as well as an existing ropeway. “Due to the growing number of pilgrims, there is a requirement to upgrade the access infrastructure at the temple,” said the statement.
The existing ropeway can handle 300 passengers per hour. Shriram EPC would implement newer technology with higher throughput enabling the second ropeway to be able to serve 1,200 persons per hour, it said.
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