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Business Standard
22-07-2025
- Business
- Business Standard
PM Modi's Zagreb trip spurs €1.1 bn Indian bids for Croatian projects
Prime Minister Narendra Modi's visit to Zagreb last month is prompting growing interest from Indian companies in major infrastructure projects in Croatia. Over the past week, Afcons Infrastructure Ltd submitted three bids for state railway and road-building projects in the euro area's newest member, worth 1.1 billion euros ($1.3 billion) in total. Another Indian company, a conglomerate led by Ashoka Buildcon Ltd, is also vying for the same railway reconstruction contract as Afcons. Croatian Prime Minister Andrej Plenkovic praised India's growing interest in maritime trade routes to the Mediterranean when he met his Indian counterpart in June to discuss mutual economic and defense cooperation. New Delhi is a relative newcomer to the Balkans where Beijing has invested heavily in infrastructure projects through its Belt and Road initiative. A Chinese consortium led by China Road and Bridge Corporation built a 2.4 kilometre (1.5 miles) Peljesac bridge, Croatia's largest sea bridge, that opened in 2022 and was paid for mainly using European Union funds. It helped connect the country's coastal territory and bypass a strip of Bosnian territory in a boost to transport and tourism. As part of the tender process, the Mumbai-based Afcons on Monday submitted the lowest bid in the railway reconstruction tender by HZ Infrastruktura, estimated at 620 million euros. It's one of the biggest railroad plans in Croatia's modern history, financed in part from EU funds. In the two other highway-building projects in southern Croatia, Afcons is facing competing bids from China Road and Bridge Corporation. Afcons bid 240.5 million euros and 214.4 million euros respectively. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Upturn
23-04-2025
- Business
- Business Upturn
Ashoka Buildcon share price surges 3% on securing Rs 568.86 crore railway EPC contract
By Aman Shukla Published on April 23, 2025, 09:19 IST Ashoka Buildcon Ltd shares rose nearly 3% following the announcement of a significant infrastructure contract awarded by Central Railway. The company received a Letter of Acceptance (LoA) for an Engineering, Procurement, and Construction (EPC) project valued at ₹568.86 crore, inclusive of GST. As per the stock exchange filing dated April 22, the contract involves comprehensive civil works for the gauge conversion project between Pachora and Jamner, covering approximately 53.3 km. The project includes earthwork, construction of major and minor bridges, road under bridges (RUBs), permanent way (P. Way) work, and other essential civil engineering tasks. Notably, the Pachora yard and road over bridges are excluded from the scope. This EPC project will be executed over a span of 913 days and has been awarded by a domestic public sector entity. It is not classified as a related party transaction, ensuring transparency and compliance with corporate governance norms. Ashoka Buildcon shares opened at ₹205.00 today, reaching a high of ₹206.99 and a low of ₹204.11 during trading. Despite current levels, the stock remains well below its 52-week high of ₹319.00, though still comfortably above its 52-week low of ₹159.34. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
