JSW Infra bags contract for Gati Shakti Multi Modal Terminal construction in Chennai
The terms and conditions will be as per the Agreement for Gati Shakti Multi-Modal Cargo Terminal (fully on railway land) to be entered with Southern Railway, Chennai Division.
JSW Infrastructure Ltd has received a Letter of Acceptance for the Contract for the Construction & Operation of the Gati Shakti Multi-Modal Cargo Terminal (GCT) at Arakkonam, Chennai, Tamil Nadu. The shares of the infrastructure company have surged by 2.9% to Rs 328.40.
As per the regulatory filing made, the Company has received a Letter of Acceptance from Southern Railway, Chennai Division for the “Contract for Construction & Operation of Gati Shakti Multi-Modal Cargo Terminal (GCT)” at Arakkonam, Chennai, Tamil Nadu.
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The terms and conditions will be as per the Agreement for Gati Shakti Multi-Modal Cargo Terminal (fully on railway land) to be entered with Southern Railway, Chennai Division.
The Company shall commence construction within three (03) months of the grant of approval of construction, and complete construction within eighteen (18) months of the grant of approval of construction of GCT. The Railway land shall be licensed for 35 years.
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The completion of the acquisition is subject to the receipt of customary approvals required from certain regulatory bodies and the completion of identified conditions precedent, as per the regulatory filing.
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